AUDUSD Analysis
AUDUSD is moving in the Descending channel and the market has reached the lower high area of the channel
Since the Queen also ruled over Australia, her death brought uncertainty to this island nation as well. Australians are now debating whether they even need a monarch to rule their nation. They don’t believe that the monarchy plays much of a role in Australia.
Gold Analysis
XAUUSD Gold price is moving in the Box pattern and the market has reached the Resistance area of the pattern.
As we recently found out about the death of Queen Elizabeth II, the British pound is facing high uncertainty, which has caused people to instead invest in gold which is considered a safe haven asset. Gold is therefore becoming a popular investment in these volatile conditions.
Silver Analysis
XAGUSD Silver Price has broken the Descending channel in Upside.
Silver is also one of the major safe haven assets after gold. People usually invest in safe-haven assets following a major economic or political event expected to cause uncertainty and volatility in market conditions. The death of the Queen is certainly a reason why many traders are moving to safe-haven assets like silver.
USDCAD Analysis
USDCAD has broken the Box pattern in Downside.
As Queen Elizabeth II was also head of state in Canada since Canada is a member of the Common Wealth, her death was grieved in this maple country as well. Canadians pay tribute to the Queen, who played a major role in the history of Canada and where it stands today.
USDCHF Analysis
USDCHF is moving in the Descending triangle pattern and the market has reached the horizontal support area of the pattern.
Switzerland previously never faced a big issue of illegal migrants entering the country. However, in light of the inflation crisis impacting the entire world, Switzerland is quickly becoming a top destination for illegal migrants who are trying to build a name for themselves in a foreign land.
EURUSD Analysis
EURUSD is moving in the Box pattern and the market has reached the Resistance area of the pattern.
Recent data revealed that despite the EU facing a huge energy crisis, they were still able to save about €29 billion in gas imports just because of solar energy. This data is now motivating them to focus more on having more solar energy in the region.
GBPUSD Analysis
GBPUSD is moving in the Descending channel and the market has reached the lower high area of the channel.
The UK faced a huge loss as Queen Elizabeth II is reported to have passed away on 8th September 2022. This monarch’s death brought uncertainty to the region, and the nation is now preparing for her state funeral and arranging for the new monarch, King Charles.
GBPJPY Analysis
GBPJPY is moving in the Box pattern and the market has rebounded from the horizontal support area of the pattern.
The death of Queen Elizabeth II is currently the major breaking news that is impacting the Pound markets everywhere. It is believed that the Queen died peacefully in Balmoral castle. However, her death brought a lot of uncertainty to the British economy.
CADCHF Analysis
CADCHF has broken the Ascending channel in Downside.
Ever since the Taliban took over Afghanistan, several Afghanis have moved to different countries as refugees. There are several refugees held in a facility in the UAE as well. As a result, the Canadian government has now agreed to take in about 1000 of them.
NZDUSD Analysis
NZDUSD has broken the Descending channel on Upside.
New Zealand is one of the many countries that is now mourning the loss of Queen Elizabeth II. Prime minister Jacinda Arden is paying tribute to her reign, and the country is now hosting a memorial service for the fallen monarch.
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