XAUUSD Gold price is moving in the Box pattern and the market has rebounded from the horizontal support area of the pattern.
Russia is still holding back from fully supplying the EU with the natural gas that it was promised. While it has opened up many pipelines, the main major pipeline is still closed. This has caused gas prices to rise sharply due to low supply.
USDCAD is moving in an Ascending triangle pattern and the market has fallen from the horizontal resistance area of the pattern.
Canada has always been known to be a peaceful country, especially compared to the US. However, we recently found out that there has been a large-scale stabbing incident in Saskatchewan which has killed ten people and wounded 15.
USDCHF is moving in an Ascending channel and the market has fallen from the higher high area of the channel.
In order to boost diversity in the region, Switzerland is now offering scholarships to Omanis in different educational fields. This is to motivate the citizens to move to the country which is facing a shortage in specific types of jobs or areas of work.
EURUSD is moving in the Box Pattern and the market has reached the Horizontal support area of the pattern.
Keeping the recent geopolitical tensions in the EU in mind, the EU now wants to increase security in the region over the next five years. They want to ensure that there is no uncertainty around the topic of safety for the citizens of the EU.
GBPUSD is moving in the Box Pattern and the market has reached the horizontal support area of the pattern.
Lizz Truss and Rishi Sunak are among the top contenders to become the next prime minister of the UK. While both candidates have their likes and dislikes, it is unclear now if Truss will be able to beat Sunak. Results are to be announced in a week.
GBPJPY is moving in the Symmetrical Triangle pattern and the market has rebounded from the bottom area of the pattern.
Japan is a country that is situated at the epicentre of a danger zone. Major earthquakes and floods is something that the Japanese people face very often. Despite this, they have a good disaster management system. This allowed them to hand over their relief goods to Pakistan.
GBPCHF has broken the Descending triangle pattern in Downside
The British government is already facing a major crisis of illegal migrants entering the country. However, their situation becomes even more severe when it was revealed that over 1000 migrants entered the UK borders through France.
Crude Oil Analysis
Crude Oil is moving in the Box pattern and the market has rebounded from the horizontal support area of the pattern.
The OPEC+ is scheduled to hold a meeting very soon which could make or break the future of the crude oil markets. In anticipation of this, the global oil prices have skyrocketed, and it is expected to continue even after the meeting has reached a conclusion.
AUDUSD is moving in the Box pattern and the market has rebounded from the horizontal support area of the pattern.
The Reserve Bank of Australia is under hot waters for failing to secure the inflation crisis in the country. As a result, the RBA now has to increase interest rates once again. It is expected that the RBA will increase rates by 0.5 basis points, just as last time.
NZDUSD is moving in the Descending triangle pattern and the market has rebounded from the horizontal support area of the pattern.
New Zealand has recently passed a new legislation which allows the government to seize all assets and properties of groups or individuals who are suspected to be involved, or are involved, in criminal activity. This should help decrease crime rates in the country.
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