AUDUSD is moving in the Descending triangle pattern and the market has reached the horizontal support area of the pattern.
The royal family is currently facing hot waters with the Australian government who is now looking to separate the country from the monarchy as they don’t believe they need to associate themselves with them anymore. It is unclear if Australia will actually move forward with this decision.
XAUUSD Gold price is moving in an Ascending channel and the market has rebounded from the higher low area of the channel.
There is an important thing to note that Russia did not expect the war to continue for this long. As a result, they are now on the verge of bankruptcy. The war has caused them to spend much more than expected on military supplies which is now becoming a problem.
XAGUSD Silver price is moving in a Descending channel and the market has reached the Lower high area of the channel.
China is the biggest consumer of oil and natural gas. When they were facing a lockdown, there was an abundance of oil supply due to which prices were bearable. However, now that they are no longer in lockdown and using a lot of oil, oil is once again in short supply.
USDJPY is moving in the Box pattern and the market has fallen from the resistance area of the pattern.
The Japanese government is currently focusing on the tourism sector in order to take the economy far away from the brink of inflation. However, this strategy is becoming harder to become successful as much of the economy is currently saving instead of going on holiday.
USDCHF is moving in an Ascending Triangle pattern and the market has rebounded from the higher low area of the Pattern.
We recently revealed how the Swiss nation is facing a potential disease threat due to melting glaciers. The Swiss healthcare system is not currently seeing this as a threat as they believe they have the means to easily eradicate any unknown ancient virus threats they may face.
EURUSD is moving in an Ascending channel and the market has rebounded from the higher low area of the channel.
The European Central Bank is getting ready to once again increase their interest rates in order to combat inflation. However the ECB panel is facing harsh remarks from the public who believe that these rate hikes are only making matters worse and taking the economy into a recession.
GBPJPY is moving in an Ascending channel and the market has rebounded from the higher low area of the channel.
While the UK mourns the Queen’s death, the royal family is already making preparations for the new King. The coronation of the monarchy usually takes up to a year after the death of the previous monarch however, it seems as though King Charles III is eager to take over the crown.
CADCHF is moving in an Ascending channel and the market has reached the higher low area of the channel.
Canada is one of the few nations that is still mourning the death of the Queen. It is believed that the Canadian government is ready to dedicate an entire day in remembrance of the Queen. This day will be celebrated every year as a national holiday to remember the late Queen.
NZDUSD is moving in a Descending channel and the market has rebounded from the Lower Low area of the channel.
Just like Canada, New Zealand is another country who is looking to dedicate an entire day to mourn and celebrate the Queen. While New Zealand still faces rocky waters with China, they are now looking to build relations with other countries in Asia to strengthen their security.
CHFJPY is moving in an Ascending channel and the market has reached the higher low area of the channel.
Japan finds itself in a very difficult location on the map. It is facing potentially coming in between the war of Ukraine and Russia and also the war of China and Taiwan. Japan is hoping to secure some military deals with Asian countries so it can be more at peace with its safety.
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