XAUUSD Gold price has broken the Descending channel in Upside.
There seems to be a pattern in this war between Russia and Ukraine where Russia would occupy a Ukrainian territory and then Ukraine would occupy it back. Russia is angered by this back and forth and they are now threatening Ukraine with nuclear weapons.
Crude Oil Analysis
Crude Oil is moving in an Ascending channel and the market has rebounded from the higher low area of the channel.
Production in China has finally come back to its pre COVID levels after many years of facing low level production. Since china is the biggest user of crude oil, there is now slowly starting to be a supply chain shortage of this precious resource.
USDCHF is moving in the Descending channel and the market has reached the lower high area of the channel.
Switzerland has been named the best country to live in in the world in 2022. However, there are many issues with Switzerland at the moment which all surround climate change. More specifically, we are facing a possible flood situation in Switzerland due to the melting glaciers.
USDJPY is moving in the Box pattern and the market has reached the resistance area of the pattern.
Japan is one the few countries most impacted by the recent economic crisis. The Bank of Japan has previously been very chill in dealing with the inflation crisis. And they have not increased the interest rates as the other countries have been doing and this has let them to be one of the few countries most impacted by the inflation crisis.
EURUSD is moving in the descending channel and the market has rebounded from the lower low area and reached the Resistance area of the channel.
The EU recently held a meeting to discuss how they want to move forward with Russia. This is because it seems like Russia is not going to surrender anytime soon and they are now looking to resort to military weapons in order to finished the war once and for all.
GBPUSD is moving in the descending channel and the market has rebounded from the lower low area and reached the Resistance area of the channel.
The UK has still not recovered from the Queen’s death and It seems as though King Charles is found to be not suitable for the crown. This is because he is seen as weak and not someone who is going to step up when needed. Australia is even now thinking of removing themselves from the crown so they no longer get associated with them.
EURCAD is moving in the Descending channel and the market has rebounded from the lower low area of the channel.
Canada is facing a lot of backlash for being the reason why many students are now having to delay their studies due to not receiving their study permit yet. Canada is a very behind in there immigration system and they have millions of applications still pending.
EURNZD is moving in an Ascending channel and the market has rebounded from the higher low area of the channel.
New Zealand is now banning any export of animal products and import of animal products because there is a big fear of animal related diseases spreading around in the continent. As a result they are going to avoid all animal products at the moment.
GBPCHF has broken the Descending triangle pattern and Market is retesting the broken area and resistance area of the Triangle pattern.
As we already mentioned the UK has still not recovered from the Queen’s death. King Charles is now looking to make new ties with many different countries including Japan as they want to be on the winning side in case the Russian war expands into a bigger problem.
AUDCHF is moving in the Descending channel and the market has fallen from the lower high area of the channel.
Australians are facing a backlash due to showing low sportsmanship in their recent cricket tournaments against other countries. Australians hold their country very highly and get angry very quickly when their country does not live up to its standards.
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