EURUSD is moving in the Descending triangle pattern and the market has reached the Lower high area of the pattern.
The EU has always maintained a neutral stance in the war between Palestine and Israel. They have been providing funding to both parties whenever they need it. This is confusing citizens worldwide as they do this but then expect people to pity Ukraine and go against Russia.
XAUUSD Gold price is moving in the Descending channel and the market has reached the lower high area of the channel.
A recent missile attack on Ukraine by Russia destroyed a major psychiatric hospital in the region. As a result, the US is now providing an additional $2 billion in aid to help the victims of the attack and possibility rebuild the facility to serve the patients in need.
USDCAD is moving in an Ascending triangle pattern and the market has rebounded from the higher low area of the pattern.
The Bank of Canada delivered a fourth consecutive interest-rate hike in a bid to slow the nation’s economy and drag inflation down from its four-decade high. However, it is believed that just like all previous rate hikes, this one is going to prove to be useless as well.
USDJPY is moving in the Descending triangle pattern and the market has reached the lower high area of the pattern.
Japan always had a very controversial approach to dealing with the inflation crisis that impacted the country and the rest of the world. They wouldn’t have rate hikes in fear of recession and this proved to be beneficial for them as they now have a climbing GDP against all odds.
USDCHF is moving in an Ascending channel and the market has reached the higher low area of the channel.
Switzerland has summoned the Chinese ambassador to express concern about the human rights situation in China’s western region of Xinjiang. The Uighur people in the region have been facing cruel and inhumane treatments against their will, which needs to be dealt with strictly.
GBPUSD is moving in the Descending channel and the market has fallen from the lower high area of the channel.
As the British are struggling to deal with unbearable energy bills, the new prime minister of the UK, Lizz Truss, has revealed her plans to release about $172 billion to provide relief to the energy bills that are quickly becoming too much to deal with.
Crude Oil Analysis
Crude Oil is moving in an Ascending channel and the market has reached the higher low area of the channel.
Oil prices are beginning to climb again as supply chain concerns are once again the reality in many countries worldwide. Putin is currently burning excess gas that it can’t store instead of releasing it to the countries in need. This is causing major anger in all superpowers.
AUDJPY is moving in an Ascending channel and the market has fallen from the higher high area of the channel.
Australia has not had any new climate laws or legislation since 2011. However, in light of the forest fires and other climate change concerns they’ve been facing recently, they have now introduced a new law to curb carbon emissions in the country significantly
AUDNZD is moving in the descending triangle pattern and the market has rebounded from the horizontal support area of the pattern.
Although New Zealand should be a country that does considerably well in managing pandemic cases compared to inland countries, this island country is struggling with it. They are now facing thousands of new cases on a daily basis, and a lockdown seems like a reality.
AUDCHF has broken the Box pattern in Downside.
Recent data reveal that Switzerland ranks among the worst EU countries regarding the gender pay gap. The Gender Overall Earnings Gap (GOEP) study revealed that Switzerland has a significant gap in the salary they provide to their male workers compared to their female ones.
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