Crude Oil Analysis
Crude Oil is moving in the Box Pattern and the market has reached the horizontal support area of the pattern.
China is once again facing more lockdowns due to being unable to control the COVID crisis in the country. As a result, crude oil demand has dropped in the country, which has caused crude oil supply to be abundant for now, and prices are stabilizing again.
XAUUSD Gold price is moving in the Descending channel and the market has fallen from the lower high area of the channel.
Most people are unaware of this, but Ukraine also has its own nuclear power plant. This is a cause for concern, as Russia could do much damage if they get their hands on it. As a result, the UN security council is now making plans to visit Ukraine and secure this compound.
USDCHF is moving in an Ascending channel and the market has fallen from the higher high area of the channel.
As a result of global warming, many glaciers in Switzerland are now melting for the first time in tens of thousands of years. This is causing the water supply level in the EU to increase, and it may reach disastrous levels if not taken care of immediately.
USDJPY is moving in the Box pattern and the market has fallen from the resistance area of the pattern.
In the last couple of days, we’ve mentioned how several countries have been pitching in to provide Pakistan with humanitarian aid for flood relief. In recent news, the US has also joined in and has donated over $30 million in flood relief for the impacted victims.
NZDUSD is moving in the Descending channel and the Market has rebounded from the lower low area of the channel.
Although New Zealand is slowly trying to get back on its feet after the pandemic, inflation has made this very hard to do so. The housing industry in New Zealand seems to be the only one improving while the rest are still under hot waters.
AUDUSD has broken the Descending triangle pattern in Downside.
In contrast to New Zealand, the housing prices in Australia are in a sharp decline. The real estate industry is immensely suffering at the hands of inflation and a possible recession. It is believed that the housing prices have not fallen this fast since the 1980s.
EURCHF is moving in an Ascending channel and the market has rebounded from the higher low area of the channel.
The EU has secretly been making a nuclear deal with Iran to increase the security of the two regions. This deal has gained great controversy as anything to do with nuclear energy is going to impact the entire world. It is unclear the terms of this deal as of right now.
EURJPY is moving in the Descending channel and the market has reached the Lower high area of the channel.
We previously mentioned how the EU is now looking to place further sanctions on Russia by suspending visa facilities for Russian citizens. Although this seems very harsh, considering the Russians are not responsible for their politics, Putin has left the EU no choice.
GBPCAD is moving in the Descending channel and the market has fallen from the lower high area of the channel.
The UK is now facing a spell of rain as we enter the monsoon season. This should come as good news, considering that just a couple of weeks ago, they were complaining about the heat wave. However, the citizens are not happy to be returning back to gloomy weather.
GBPJPY is moving in an Ascending triangle pattern and the Market has reached the higher low area of the triangle pattern.
We all know Japan as the country with the latest and greatest technological inventions. However, what most people don’t realize is that they are equally among the top countries in the world that are still using older inventions like the floppy disk.
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