Crude oil Analysis
Crude oil is moving in the Descending triangle pattern and the Market has reached the Horizontal support area of the pattern.
As a show of power and anger against the US who has talked really bad about China recently, China fires missiles around Taiwan to show their military superiority and tthreatensthat they may do the same to the US if the US continues to talk bad about their country.
XAUUSD is moving in an Ascending channel and the market has rebounded from the higher low area of the channel.
Every day it is becoming more and more clear that China is going to become the global superpower. This is exactly why Ukraine’s president Zelenskyy reached out to China’s Xi to see if he can help Ukraine escape the war that is currently going on with Russia.
USDCHF is moving in an Ascending channel and the market has reached the higher low area of the channel.
Switzerland, along with the rest of the EU had been placing sanctions on several products from Russia such as oil due to the ongoing war. However, they have recently revealed that they are now also placing sanctions on Russian gold despite this being an important commodity.
EURUSD is moving in the Descending channel and the Market has rebounded from the Horizontal support area of the minor box pattern.
Ever since the war in Ukraine began and Ukraine began and Ukraine requested to join the EU, every other EU application has been put on hold temporarily in order to make room to potentially give Ukraine its emergency membership first. This has angered others who were waiting first.
EURJPY is moving in the Descending channel and the Market has rebounded from the Lower low area of the channel.
Japan is now increasing trade with many different countries that it wouldn’t have previously due to the uncertainty of the war in Europe. One of the countries it is now trading with is Pakistan and they have already provided the country with almost ten million dollars.
GBPUSD is moving in an Ascending channel and the market has rebounded from the higher low area of the channel.
UK housing market dynamics are changing fast, with mortgage price increases likely to continue as the Bank of England raises interest rates once again in order to combat the inflation crisis and raise food and rent rates in the region.
GBPAUD is moving in an Ascending channel and the market has reached the higher low area of the channel.
Along with its fellow country New Zealand, Australia is now looking to cut emissions by 43% by 2030. This is in accordance with their new climate bill which is supposed to help climate change as the country is currently facing one of the worst heat waves of all time.
GBPCHF is moving in an Ascending triangle pattern and the Market has fallen from the Horizontal resistance area of the pattern.
The UK had previously never looked to trade with Southeast Asian countries as it has always been satisfied with trading with its neighboring countries. However, due to the recent uncertainty in Europe as a result of the war in Ukraine, the UK has to find new relations with other countries in order to make sure that its government does not fall apart.
CADCHF is moving in the Descending channel and the Market has fallen from the Lower high area of the channel.
Canada now fears that the situation between the US and China could escalate. They fear this because they believe that if the situation escalates, Canada will have to get involved. Therefore, the Canadian minister calls on China to de-escalate the situation before it gets worse.
NZDUSD is moving in an Ascending channel and the market has rebounded from the higher low area of the channel.
New Zealand is one of the few countries that has faced one of the worst cases of monkeypox in the whole world. They are the most impacted by it and they really need to get the vaccine as soon as possible. However, it is uncertain when the vaccines will be created.
Don’t trade all the time, trade forex only at the confirmed trade setups.
Get more confirmed trade setups here: forexgdp.com/forex-signals/