AUDUSD has broken the Descending channel in Upside.
When the war in Ukraine began, several nations opened their borders to Ukrainian refugees. Australia had also promised to help Ukrainians the best they can. However, they soon revealed they closed their borders to new refugees which had caught everyone by surprise.
XAUUSD Gold price is moving in the Descending channel and the market has rebounded from the lower low area of the channel.
One of the major cities of Ukraine called Kharkiv was taken over by Russia previously during the war. However, Ukraine was able to recover this city soon later. Now, Russia is trying to retake this city. This is impacting gold prices once again.
EURUSD is moving in the Descending channel and the market has rebounded from the lower low area of the channel.
The EU member states held a joint meeting with China as they wanted to know where China stood in the current war. However, China was unable to deny that they’re supporting Russia both financially and militarily. This has caused tensions between the EU and China.
USDCAD is moving in an Ascending channel and the market has fallen from the higher high area of the channel.
Earlier there was a G20 meeting that consisted of the top nations around the world. Among these nations were Canada and Russia as well. Canada was shocked and unhappy that Russia was allowed to participate in the meeting. Their crimes should have been enough to ban them.
USDJPY is moving in an Ascending channel and the market has rebounded from the higher low area of the channel.
Japan used to be known as the tech capital of the world. Several new technologies would first see light in Japan before the rest of the world. However, it is quite strange that when the rest of the world is shifting to crypto, Japan is lagging behind and unable to make this shift smoothly.
USDCHF has broken the Ascending channel downside.
While the rest of the world has mostly recovered from the spread of COVID-19, Switzerland is yet facing another wave of this deadly virus. These past few weeks, the number of cases has grown consistently and Switzerland faced 56,000 new cases in this week alone.
GBPUSD has broken the Descending channel in Upside.
The UK used to be a nation with very cool summers and bearable winters. Now, climate change has ruined the weather of the country. Today marks the hottest day of the year in the UK and temperatures are reaching 40 degrees Celsius.
GBPCHF has broken the Descending channel in Upside.
Both the UK and Switzerland are facing tough times for their citizens. The UK is currently battling the worst heatwave of the year and Switzerland is battling the worst COVID-19 wave in quite some time. This is bad news for both nations.
Crude Oil Analysis
Crude Oil is moving in the Descending triangle pattern and the market has rebounded from the horizontal support area of the pattern.
US President Joe Biden recently made a trip to the Middle East in hopes of getting a new oil supplier to ease the supply chain issue in both the US and around the world. However, this trip was unsuccessful as Biden was unable to secure any trade deals.
NZDUSD is moving in the Descending channel and the market has reached the lower high area of the channel.
New Zealand has faced one of the worst inflation crises in the world. It was revealed early today that New Zealand’s inflation hit 7.3%. This is the highest level this nation has seen since 1990. This is a 32-year high on food, fuel, and housing costs.
Don’t trade all the time, trade forex only at the confirmed trade setups.
Get more confirmed trade setups here: forexgdp.com/forex-signals/