USDCHF is moving in the Descending channel and the market has Fallen from the Lower high area of the channel.
Switzerland is known for its breathtaking beauty and tourists from all over the world come to this heaven to experience its beauty. However, in an unfortunate turn of events, the Switzerland National Park which has greenery has been destroyed by wildfires due to climate change.
XAUUSD is moving in the Descending channel and the Market has rebounded from the Lower low area of the channel.
The US has recently made a deal with Russia which has the world unsure of how they feel about it. There are two Americans prisoned in Russia and the US has made a deal with Russia to release them in exchange for a Russian arms dealer who is prisoned in the US.
USDJPY is moving in an Ascending channel and the Market has reached the higher low area of the channel.
Japan has been one of the few countries that were almost unaffected by monkeypox despite being unable to control the coronavirus pandemic. However, it was revealed earlier today that they have now witnessed the second case of monkeypox in the country which is causing havoc.
Crude Oil Analysis
Crude Oil is moving in the Symmetrical triangle pattern and the Market has reached the Lower high area of the Triangle pattern.
The crude oil inventory levels are at major alert levels all over the world. The US recently released its oil inventory levels and it reveals a new low which signifies that the gas crisis is continuing to worsen unless they seek help from Russia which is out of the question right now.
EURGBP is moving in an Ascending channel and the Market has reached the higher low area of the channel.
In view of the gas shortage in the region, the EU has pledged to reduce its gas consumption by 15%. The entire reason for this is the fact that they are slowly getting cut off from receiving gas from Russia which is their main supplier so they need to save up enough gas to last the winter.
GBPCHF is moving in the Descending triangle pattern and the Market has Fallen from the Lower high area of the Pattern.
The UK is currently in a severe situation as they risk being part of a nuclear war due to both their diplomatic relations and location in the world. Their national security advisor has warned that they’re going to come in between a nuclear confrontation between Russia and China.
GBPNZD is moving in the Descending triangle pattern and the Market has Fallen from the Lower high area of the Pattern.
The UK has recently started a new scheme called the Ukraine Family Scheme where they are providing homes for Ukrainian refugees who have entered the country. So far, they have already provided a roof to over a hundred thousand Ukrainian refugees and still have a lot to go.
CADJPY is moving in an Ascending channel and the Market has reached the higher low area of the channel.
Canada is currently getting heat from the international community for failing to support European countries like Germany in their plea for help. Germany is struggling to help Ukrainian refugees and handle the gas crisis but Canada just faced the other way when asked to help.
AUDJPY is moving in an Ascending channel and the Market has reached the higher low area of the channel.
It is evident that the entire world is currently facing one of the worst inflation crises in decades. Australia has also been impacted and it is currently believed by the Reserve Bank of Australia that Australia may continue to see inflation get worse for another two years if not dealt with.
AUDNZD is moving in an Ascending channel and the Market has reached the higher low area of the channel.
New Zealand is facing a possible terrorist attack after the New Zealand police received an anonymous tip that the schools in the country could face a bomb threat by an overseas attack. As a result, every school in the country has been temporarily evacuated until further notice.
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