Technical Analysis By zForex

[Z Forex]

Daily Analysis by zForex Research Team - 04.16.2025​

Safe-Haven Demand Lifts Gold, Yen, and Pound​

The U.S. dollar index dropped below 100 on Wednesday, nearing a three-year low, as investors awaited remarks from Fed Chair Jerome Powell.

The EUR/USD held near 1.1323 despite mixed Eurozone data. The Japanese yen rose past 143 on safe-haven flows and fresh trade tensions. Gold surged to a new all-time high above $3,260, while silver remained firm around $32.30. The British pound climbed to $1.32 on optimism over delayed U.S. auto tariffs and rising BoE rate cut expectations.

 

[Z Forex]

EUR/USD Analysis by zForex Research Team - 04.16.2025​

EUR/USD Stable as Dollar Slides​

The EUR/USD pair hovered near 1.1323 early Wednesday, while the U.S. Dollar Index fell below the 100 mark, approaching its lowest level in nearly three years. Investors remain focused on an upcoming speech by Federal Reserve Chair Jerome Powell, as the central bank seeks to support economic growth while managing inflation risks heightened by recent tariff developments. In the Eurozone, industrial production data exceeded expectations, though the ZEW economic sentiment index fell short of forecasts in Tuesday’s releases.

Key resistance is at 1.1400, followed by 1.1475 and 1.1500. Support lies at 1.1260, then 1.1180 and 1.1100.

 

[Z Forex]

GBP/USD Analysis by zForex Research Team - 04.16.2025​

Pound Gains on Easing Trade Risks​

The British pound climbed above $1.32 on Wednesday, a six-month high, supported by easing trade tensions and shifting BoE expectations. Hopes that Trump may delay auto tariffs boosted UK exporters, especially auto parts firms.

Markets are nearly fully pricing in a BoE rate cut in May, as companies begin job cuts ahead of tax hikes and rising wage costs. Private wage growth stayed high at 5.9%, but March saw a sharp drop in employment.

While a stronger pound may ease inflation near term, upcoming energy and regulated price hikes could complicate BoE policy. Rate cut expectations are rising.

If GBP/USD breaks above 1.3270, resistance levels are at 1.3430 and 1.3500. Support is at 1.3015, followed by 1.2900 and 1.2700.

 

[Z Forex]

Daily Analysis by zForex Research Team - 04.17.2025​

Safe-Haven Demand Lifts Gold, Yen, and Pound​

The U.S. dollar index dropped below 100 on Wednesday, nearing a three-year low, as investors awaited remarks from Fed Chair Jerome Powell.

The EUR/USD held near 1.1323 despite mixed Eurozone data. The Japanese yen rose past 143 on safe-haven flows and fresh trade tensions. Gold surged to a new all-time high above $3,260, while silver remained firm around $32.30. The British pound climbed to $1.32 on optimism over delayed U.S. auto tariffs and rising BoE rate cut expectations.

 

[Z Forex]

USD/JPY Analysis by zForex Research Team - 04.17.2025​

Yen Rises Past 143 on Trade Jitters and Weaker Dollar​

The Japanese yen strengthened past 143 per dollar on Wednesday, supported by a weaker U.S. dollar amid renewed trade worries. The greenback fell after President Trump ordered a probe into tariffs on critical mineral imports, many from China. Attention now turns to upcoming U.S.-Japan trade talks, where Tokyo will push to remove existing tariffs. Meanwhile, Japanese manufacturing confidence rose to an eight-month high in April, though broader caution persists due to trade uncertainty.

Key resistance is at 144.20, with further levels at 148.30 and 152.50. Support stands at 141.80, followed by 141.00 and 139.70.

 

[Z Forex]

Gold Analysis by zForex Research Team - 04.17.2025​

Gold Climbs as Investors Await Powell​

Gold climbed toward $3,260 per ounce on Wednesday, setting a fresh record high as ongoing uncertainty over U.S. trade policy drove demand for safe-haven assets. The upward move was also supported by a softer U.S. dollar and continued positive sentiment from major financial institutions, citing strong inflows into gold-backed ETFs and steady central bank buying. Market participants are now awaiting key U.S. retail sales data and a speech from Federal Reserve Chair Jerome Powell later today, looking for further guidance on the economic outlook and potential shifts in monetary policy.

Key resistance is at $3,290, followed by $3,330 and $3,380. Support stands at $3245, then $3190 and $3135.

 

[Z Forex]

Daily Analysis By zForex Research Team - 04.18.2025​

The euro eased slightly after the ECB delivered a widely expected rate cut but retained strong monthly gains. The yen held firm following Japan’s CPI data, while gold and silver pulled back from recent highs as traders booked profits ahead of the Easter holiday.

The U.S. dollar saw modest strength following hawkish Fed signals, despite continued trade tensions and inflation concerns. Sterling extended its rally on a softer inflation print, while market focus shifts to next week’s central bank meetings and trade developments.

EUR/USD Analysis By zForex Research Team - 04.18.2025​

Euro Eases After ECB Cut but Holds Weekly Gains​

The euro edged down toward $1.13 on Friday, easing slightly from its highest level since January 2022, after the ECB delivered a widely expected rate cut. The central bank lowered the deposit rate by 25 basis points to 2.25%. This marked the sixth consecutive cut and brought the rate to its lowest level since early 2023. The ECB also removed its previous reference to policy being "restrictive" but warned that rising global trade tensions could weaken the growth outlook.

Despite the pullback, the euro has gained around 5% against the dollar in April. The rally has been fueled by growing doubts about the dollar’s global dominance and increased investor preference for the euro. Additional support came from expectations of higher defense spending in the eurozone, particularly in Germany. On Good Friday, with markets quiet, the euro held steady near 1.1370.

Key resistance is at 1.1415, followed by 1.1475 and 1.1500. Support lies at 1.1260, then 1.1180 and 1.1100.

USD/JPY Analysis By zForex Research Team - 04.18.2025​

Yen Holds Steady After CPI Data, BOJ in Focus​

The Japanese yen held around 142.3 per dollar on Friday, near a seven-month high, after inflation data showed headline CPI eased to 3.6% in March and core inflation matched forecasts at 3.2%.

Focus now shifts to next week’s Bank of Japan meeting, where rates are expected to stay at 0.5%. However, growth forecasts may be lowered due to concerns over U.S. tariffs impacting Japan’s export-driven economy. The BOJ is likely to stick with gradual tightening, supported by rising wages and food prices.

Finance Minister Kato denied currency manipulation, saying Japan isn’t deliberately weakening the yen.

Key resistance is at 144.20, with further levels at 148.30 and 152.50. Support stands at 141.80, followed by 141.00 and 139.70.

 

[Z Forex]

Daily Analysis By zForex Research Team - 04.21.2025​

Dollar's Dip Impacts Currencies and Gold​

The financial markets experienced significant fluctuations, driven by a weakening U.S. dollar and escalating trade tensions.

The EUR/USD climbed with concerns over the Federal Reserve's independence, while the Japanese yen strengthened as the dollar weakened. Gold prices surged to a new all-time high, fueled by trade fears and a low-yield environment. The British pound extended its winning streak, supported by the dollar's slide, and silver prices hovered.

EUR/USD Analysis By zForex Research Team - 04.21.2025​

EUR/USD Surges to 1.1470 on Dollar's Three-Year Low​

EUR/USD opened the week with strong momentum, climbing to around 1.1470 on Monday morning. This surge came as the U.S. dollar index dropped to a fresh three-year low near 98.6, pressured by rising concerns about the Federal Reserve’s independence. Market anxiety intensified following renewed criticism from President Donald Trump, who stated last week that the removal of Fed Chair Jerome Powell "cannot come fast enough," calling for deeper rate cuts. These remarks added to ongoing market unease already fueled by trade tensions and policy uncertainty under the Trump administration.

Key resistance levels are seen at 1.1530, 1.1600, and 1.1680, while support is located at 1.1400, 1.1260, and 1.1180.

Gold Analysis By zForex Research Team - 04.21.2025​

XAU/USD Driven by ECB Rate Cut​

Gold prices surged more than 1% on Monday, reaching a new all-time high above $3,370 per ounce. The rally was driven by intensifying global trade tensions and a weakening U.S. dollar, which has fallen to its lowest level in three years. The dollar’s decline has made gold more attractive to non-dollar investors.

The latest catalyst came from President Trump’s order for a probe into possible new tariffs on all U.S. critical mineral imports, sparking further trade fears, especially with China. The ECB’s recent rate cut also strengthened gold’s appeal in a low-yield environment. Sentiment was further shaken after White House adviser Kevin Hassett confirmed that the administration is still reviewing Powell’s position, deepening concerns about the Fed’s autonomy.

Key resistance is at $3400, followed by $3,450 and $3,500. Support stands at $3356, then $3310, and $3250.

 

[Z Forex]

Daily Analysis By zForex Research Team - 04.22.2025​

The dollar weakened further on Tuesday as concerns over the Fed’s independence and mounting U.S.-China trade tensions rattled investors.
EUR/USD remained firm above 1.15, while the Japanese yen surged to seven-month highs and gold hit a record above $3,460 on safe-haven flows. The British pound extended gains despite softer inflation data, and silver rebounded toward $33 amid geopolitical risks. Markets now await central bank commentary and trade policy clarity amid rising political noise.

EUR/USD Analysis By zForex Research Team - 04.22.2025​

EUR/USD Holds Firm as U.S. Policy Uncertainty Grows​

EUR/USD traded around 1.1530 on Tuesday, while the dollar index remained around 98.4, weighed down by concerns about the Federal Reserve’s independence and escalating trade tensions. President Trump called for swift rate cuts and suggested removing Fed Chair Jerome Powell, fueling worries over political influence on monetary policy. The sentiment was further impacted by stalled US-China negotiations and China’s warnings to countries aligning with Washington.

Key resistance is at 1.1550, followed by 1.1600 and 1.1680. Support lies at 1.1400, then 1.1260 and 1.1180.

GBP/USD Analysis By zForex Research Team - 04.22.2025​

UK Inflation Eases, But Pound Strengthens​

The British Pound rose above $1.34 on Tuesday, its highest level in seven months, supported by broad dollar weakness. This gain came despite UK inflation softening more than expected, with headline CPI at 2.6% and services inflation down to 4.7%. Easing price pressures led markets to raise expectations for Bank of England rate cuts, now pricing in 86 basis points of easing by year-end, with a fourth cut increasingly likely.

If GBP/USD breaks above 1.3430, resistance levels are at 1.3500 and 1.3550. Support is at 1.3300, followed by 1.3200 and 1.3050.