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Top 10 Forex News and Analysis – Aug 29, 2022
3 mins well spent

AUDNZD Analysis

AUDNZD is moving in the Box Pattern and the Market has reached the horizontal resistance area of the pattern.

In a surprising turn of events, New Zealand recently logged over 1600 new COVID cases in the country. Six of these cases resulted in deaths which have stunned nations worldwide because New Zealand is one of the most secure countries in terms of the pandemic.

AUDUSD Analysis

AUDUSD is moving in the Descending channel and the market has fallen from the Lower high area

AUDUSD is moving in the Descending channel and the market has fallen from the Lower high area and reached the horizontal support area of the pattern.

Today marks 100 days since the Australian Prime Minister sat on his seat. As a result, he now views that his government is focusing on increasing the jobs and workplace reforms in the country while it battles through a very challenging economic crisis.

XAUUSD Analysis

XAUUSD Gold price is moving in the Descending channel and the Market has fallen from the Lower high area of the channel 4

XAUUSD Gold price is moving in the Descending channel and the Market has fallen from the Lower high area of the channel.

Recently, a four-week UN conference was held in which there were talks about a joint agreement in order to prevent any further use of nuclear weapons. However, it was recently revealed that Russia rejected this agreement, and they have been blocking the UN.

XAGUSD Analysis

XAGUSD Silver Price has broken the Ascending channel in Downside.

XAGUSD Silver Price has broken the Ascending channel in Downside.

Several EU countries are now looking to suspend Russian visas in order to pressurize the country into giving up the war. This decision is not being taken well by Russia. However, it is likely that they will not stop the war as a result of it.

USDJPY Analysis

USDJPY is moving in the Box Pattern and the Market has reached the Horizontal resistance area of the pattern

USDJPY is moving in the Box Pattern and the Market has reached the Horizontal resistance area of the pattern.

Just a couple of days ago, we revealed how Japan is now looking to make new relations with Africa as a result of the declining economic crisis in the region around it. As a result, Japan is now pushing for an African seat on the UN Security Council.

USDCHF Analysis

USDCHF is moving in the Descending channel and the Market has reached the Lower high area of the channel 2

USDCHF is moving in the Descending channel and the Market has reached the Lower high area of the channel.

The US has previously stated time and time again that they no longer want to interfere with what’s going on in Afghanistan. However, it was recently revealed that the US had entered Afghanistan using drones through Pakistan. This has been claimed by the Taliban.

EURUSD Analysis

EURUSD is moving in the Box Pattern and the Market has rebounded from the horizontal support area of the pattern

EURUSD is moving in the Box Pattern and the Market has rebounded from the horizontal support area of the pattern.

There’s currently a worldwide crisis of inflation. However, the UN council has recently given Poland €35 billion in COVID Relief Fund. This has caused quite a controversy, and the EU council is now being sued for misplacement of funds.

EURCAD Analysis

EURCAD is moving in the Descending channel and the Market has reached the Lower high area of the channel

EURCAD is moving in the Descending channel and the Market has reached the Lower high area of the channel.

while many other countries in the world are struggling to make trade deals with oil-rich countries, Canada is instead looking to produce their own oil to support itself. It is unclear if this West Coast LNG revival will work as planned. However, this is a major step.

GBPUSD Analysis

GBPUSD has broken the Box Pattern in Downside.

GBPUSD has broken the Box Pattern in Downside.

Did you know that the UK imports 50% of its gas from other countries? And this is exactly why the UK is facing a gas shortage crisis. Although Russia is mainly cutting off the gas supply, it is affecting many other countries, including the UK, which may not have gas for the winter.

GBPCHF Analysis

GBPCHF is moving in the Descending channel and the market has fallen from the

GBPCHF is moving in the Descending channel and the market has fallen from the Lower high area and reached the Horizontal support area of the pattern.

Recently, Madonna revealed a new vaccine that was made specifically for the omicron variant. Not many countries have allowed the use of this vaccine yet. However, Switzerland now gives the green light to issue this booster shot.


Don’t trade all the time, trade forex only at the confirmed trade setups.

Get more confirmed trade setups here: forexgdp.com/forex-signals/

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