EURUSD Analysis
EURUSD is moving in the Descending channel and the market has reached the lower low area of the channel.
For more than a decade, Hungary’s prime minister Viktor Orbán has been locked in battle with the European Union. They always had contrasting views on different matters and never saw eye to eye with each other. Hungary always did what it wanted to but now, the EU is fighting back.
GOLD Analysis
XAUUSD Gold price is moving in the Descending channel and the market has rebounded from the lower low area of the channel.
Putin recently held a speech where he revealed that Russia will resort to using nuclear weapons if it deems necessary. This speech comes after Russia has been receiving threats of a potential invasion from an unknown source unless it brings an end to the war in Ukraine.
USDJPY Analysis
USDJPY is moving in an ascending channel and the market has reached the resistance area of the Box pattern inside the channel.
After much anticipation, Japan finally held a state funeral for the murdered ex-prime minister Abe. Several top government officials from all over the world were invited to this funeral, including India’s prime minister Narendra Modi who offered a floral tribute to his friend Abe.
USDCHF Analysis
USDCHF is moving in the Descending channel and the market has fallen from the lower high area of the channel.
A recent report was released which revealed the top best countries in the world in 2022. Switzerland was found at the top of the list, ranking the number one best country to live in. A strong economy and good quality of life enabled this Swiss nation to top the charts.
GBPUSD Analysis
GBPUSD has broken the Box pattern Downside.
The UK government recently revealed a mini-budget that has spooked the GBP markets. The GBP markets are now facing market volatility in view of the recent budget released by the UK government. The UK has the second highest income inequality of any OECD country.
Crude Oil Analysis
Crude Oil Price is moving in the Descending channel and the market has rebounded from the lower low area of the channel.
A hurricane is forecasted in the US, which has caused crude oil prices to fall to January levels. Hurricane Ian is just one of the countless hurricanes that the US faces every year. The oil supply cuts from the gulf also factored in to result in these price levels.
CADJPY Analysis
CADJPY is moving in an ascending channel and the market has rebounded from the higher low area of the channel.
In these past few weeks, more and more countries are dropping their mandatory mask-wearing in public. Just a couple of days ago, the UAE announced no longer requiring to wear a mask, and now, Canada has followed the trend and also no longer require masks in public.
AUDJPY Analysis
AUDJPY is moving in an ascending channel and the market has rebounded from the higher low area of the channel.
Australia announces plan for new corruption watchdog. Prime Minister Anthony Albanese says that the body will restore trust and integrity to federal politics. This comes after the previous prime minister was accused of corruption and misusing his power for his own good.
NZDUSD Analysis
NZDUSD is moving in the Descending channel and the market has fallen from the lower high area of the channel.
Election season is quickly approaching in New Zealand, and there is much anticipation to see whether or not prime minister Jacinda will win a third term. She has got a fight on her hands as her opponents are quickly gaining popularity and may even cross her to win.
CHFJPY Analysis
CHFJPY is moving in an ascending channel and the market has rebounded from the higher low area of the channel.
A top government official visited Russia on good terms but was however detained by the Russian government for no reason. He was released after a couple of hours and the Japanese government demands an apology from Russia which they will never get.
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