Fri, Feb 03, 2023

GBPUSD Analysis

GBPUSD is moving in the Descending channel and the market has reached the lower high area of the channel.

The UK’s 10-year borrowing cost numbers are now becoming close to that of Italy. The UK is losing credibility to pay out its loans and is in a slowly sinking boat. This entire crisis is going to taint the reputation of the Bank of England if not controlled.

XAUUSD Analysis

XAUUSD Gold Price is moving in an Ascending channel and the market has rebounded from the higher low area of the channel.

XAUUSD Gold Price is moving in an Ascending channel and the market has rebounded from the higher low area of the channel.

While we didn’t hear from Russia in quite a while, they came back with a bang, quite literally. We recently found out that Russia has attacked Kyiv using drones made in Iran. It is unclear if Iran played a role in this attack or if Russia just used their drones.

XAGUSD Analysis

XAGUSD Silver Price has broken the Descending channel in Upside. 1

XAGUSD Silver Price has broken the Descending channel in Upside.

Russia has acquired a part of Ukraine, and they are now discussing whether or not they want to destroy it or make it a part of Russia. There was supposed to be a vote on this decision; however, the vote was postponed due to security concerns.

USDCHF Analysis

USDCHF is moving in the Box Pattern and the market has reached the resistance area of the pattern.

USDCHF is moving in the Box Pattern and the market has reached the resistance area of the pattern.

As of last year, Switzerland has banned all face coverings, even if they are for religious purposes. This sparked a huge debate around the world. Just recently, they also announced that anyone who is going to break this rule would have to face a $1000 fine.

EURUSD Analysis

EURUSD is moving in the Descending channel and the market has reached the lower high area of the channel 2

EURUSD is moving in the Descending channel and the market has reached the lower high area of the channel.

It seems as if the EU members are unfit to control the decision-making of this region. We are hearing rumors that there is soon going to be foreign interference in the EU. This is more specifically going to take place in the EU parliament in order to stabilize the region.

EURJPY Analysis

EURJPY is moving in an Ascending channel and the market has reached the higher high area of the channel

EURJPY is moving in an Ascending channel and the market has reached the higher high area of the channel.

If you’re keeping an eye on the market over a longer time frame, you would’ve noticed that the Japanese Yen has been facing a sharp decline for quite some time now. The Japanese finance minister has recently warned that the BOJ is going to take strict measures against this.

GBPCAD Analysis

GBPCAD has broken the Descending channel in Upside.

GBPCAD has broken the Descending channel in Upside.

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.

CHFJPY Analysis

CHFJPY is moving in an Ascending channel and the market is rebounded from the higher low area of the channel

CHFJPY is moving in an Ascending channel and the market is rebounded from the higher low area of the channel.

Even though there have been rising price hikes in Japan, household spending has not decreased, which reveals that people have no choice but to buy their necessary products. The rise in COVID-19 cases in the country has also not reduced household spending.

AUDCHF Analysis

AUDCHF has broken the Descending channel in Upside.

AUDCHF has broken the Descending channel in Upside.

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.

AUDNZD Analysis

AUDNZD is moving in an Ascending channel and the market has reached the higher low area of the channel 1

AUDNZD is moving in an Ascending channel and the market has reached the higher low area of the channel.

Just recently, we revealed how the Australian government has eased visa guidelines in order to push more people to migrate to the country that is facing a huge labor shortage. However, the Aussies are not very welcoming of foreigners unless they are only temporary.


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