EURJPY is moving in an Ascending triangle pattern and the market has reached the resistance area of the pattern.
Russia and Georgia are now teaming up, and Georgia is providing Russia with military equipment to support them in the war. As a result, the EU is banning to recognition of all Russian passports that were made in Georgia’s breakaway territories.
XAUUSD Gold price has broken the Descending channel and the market has retested the broken area of the channel.
There was recently a UN vote where different countries had to decide whether they supported the annexations carried out by Russia on Ukraine. Saudi Arabia also voted in this where they sided with Ukraine and openly admitted to being against Russia.
USDCAD is moving in an Ascending channel and the market has rebounded from the higher low area of the channel.
Some Canadian banks are expecting the Bank of Canada to increase its key rate by three-quarters of a percentage point, bringing it to 3.25 percent. This is much needed in order to combat the ongoing inflation crisis in the country.
Crude Oil Analysis
Crude Oil is moving in the Descending channel and the market has reached the Lower high 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.
USDJPY is moving in an Ascending channel and the market has reached the higher high area of the pattern.
Whenever the Japanese Yen makes sudden sharp inclines or declines, the Bank of Japan releases a statement where they state that they are going to take appropriate measures to resolve the situation. However, this is just a generic statement that has no purpose.
USDCHF is moving in the Box pattern and the market has reached the resistance area of the pattern.
In light of the great resignation, Switzerland is now also facing an acute shortage of teachers. They are expected to face this shortage over the next decade. As a result, they are now actively looking for individuals willing to take on this role.
NZDUSD is moving in the Descending channel and the market has reached the Lower low area of the channel.
For the first time since the pandemic, New Zealand has finally welcomed back international students who have been studying remotely for the past year or so. These students can finally return back to their regular lives studying in New Zealand.
GBPUSD has broken the Descending channel in Upside.
In light of the continuing flood crisis in Pakistan, the UK has once again announced that they are going to be providing the country with £10 million in flood relief. While many around the world are in support of this, others are wary as to if Pakistan will even use it for the right reasons.
GBPCHF has broken the Descending channel in Upside.
In order to relieve some stress off the region, the EU is looking to cut the electricity prices by half so the citizens can get room to breathe. However, this does come with a catch. It is revealed that they are only going to do this if the nation follows the electricity-saving rules.
AUDCHF has broken the Descending channel in Upside.
As Australians continued their spending habits despite the enormous price hikes, it is revealed that the Australian economy now grows at 3.6% annually on spending. However, economists reveal that this is a short-term boom, and we should expect a recession in the long run.
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