AUDCAD is moving in the Descending channel and the Market has fallen from the Lower high area of the channel.
It was revealed today that the Australian Reserve Bank had finally increased its interest rates again and it is now at 1.85%. This is very crucial to understand as it is causing major havoc in the nation as this is the 6 year high for this rate. Only time will tell if it is going to get worse.
XAUUSD Gold price is moving in an Ascending channel and the market has rebounded from the higher low area of the channel.
Although Russia should be trying to mend relations with different countries, they are instead finding ways to make other nations more angry on purpose. Recently it was revealed that Russia has now banned several Scottish politicians from entering the country which is bad for their reputation.
USDCAD is moving in the Descending channel and the Market has reached the Lower high area of the channel.
As we’ve discussed previously, it is quite odd that Canada is keeping very strict border policies and barely letting anyone in if you consider the fact that it was recently revealed that Canada currently has over 1 million vacant jobs that they urgently need to fill.
USDCHF is moving in the Descending channel and the Market has fallen from the Lower high area of the channel.
Switzerland used to be a top destination to settle due to its beauty and stable economic conditions. However, they are now facing hot waters as they recently revealed that they are going to start revoking citizenships if they believe you are not behaving as good loyal citizens.
EURUSD is moving in the Box Pattern and the market has fallen from the Horizontal Resistance area of the pattern.
In any attempt to mend relations between Russia and Ukraine, the EU is inviting the leaders from both countries to a neutral ground in Brussels to hold talks. It is less likely that these talks will lead to a solution as they’ve held many talks before but never came to an agreement.
GBPAUD has broken the Descending channel in Upside.
Studies are currently being conducted to figure out why the UK is currently facing a food shortage crisis. Experts reveal that it has a a lot to do with Brexit, climate change, and the pandemic combined. It is unclear how they plan on resolving this crisis.
CADJPY is moving in the Box Pattern and the Market has reached the Horizontal Support area of the Pattern.
Japan has been one of the few countries that have tried their best to maintain monetary and economic conditions despite the ongoing political crisis in the region. Despite this, they are facing a huge inflation crisis which has now caused them to increase their minimum wage rate.
Crude Oil Analysis
Crude Oil is moving in the Descending triangle pattern and the Market has reached the Horizontal Support area of the pattern.
Crude oil is consistently rising everyday considering the fact that demand is high and supply is getting lower and lower everyday. Russia is now purposely shutting down their gas supply so nations can suffer and beg them to open their supply again by paying them a good amount of money.
NZDJPY has broken the Box Pattern in Downside.
In a surprising turn of events, the New Zealand political leaders are asking the people to not use Tik Tok as they believe that China is going to hack into their computer systems through this app. This is probably true as New Zealand and China are currently not in a good relationship and China could very well do this.
CHFJPY has broken the Box Pattern in Downside.
Japan is still facing some of hottest seasons in decades as they’re trying to cope with the climate change crisis that has taken over the entire world. Japan has built their country to survive earthquakes but they have yet to do much about keeping their environment cool.
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