Daily Global Analysis By zForex

[Z Forex]

Daily Analysis by zForex Research Team - 20.05.2025​

Risk sentiment shifted this week as Moody’s downgraded the US credit rating, weakening the dollar and supporting major currencies and commodities.

The euro climbed toward $1.13 on both the downgrade and a tentative EU-UK post-Brexit deal, while the yen held firm despite Japan’s Q1 contraction. Gold and silver retreated as hopes for a Russia-Ukraine ceasefire eased safe-haven demand. Meanwhile, the British pound rallied past $1.336, backed by strong GDP growth and optimism over new UK-EU trade cooperation. Market focus now turns to upcoming Fed speeches and trade negotiations.

EUR/USD Analysis by zForex Research Team - 20.05.2025​

US Credit Downgrade and Brexit Progress Lift Euro​

The euro approached the $1.13 mark on Tuesday, extending its rebound from the one-month low recorded on May 12. The rally followed a broad-based weakening in the US dollar after Moody’s downgraded the US credit rating from Aaa to Aa1, citing mounting government debt and widening fiscal deficits. The downgrade sparked investor concerns about long-term US economic stability and pressured dollar-denominated assets.

The EU and UK finalized a provisional agreement addressing key post-Brexit issues such as defense, fisheries, youth mobility, and security cooperation. The deal may pave the way for UK companies to participate in major EU defense projects, marking a potential turning point in EU-UK relations.

The European Central Bank is expected to initiate a rate cut in June, with additional easing possible later in the year. Despite these expectations, the euro has held firm, buoyed by both geopolitical developments and dollar weakness.

EUR/USD now faces resistance at 1.1260, with further upside barriers at 1.1460 and 1.1580. Support lies at 1.1040, followed by 1.1000 and 1.0960.

Gold Analysis by zForex Research Team - 20.05.2025​

Gold Slips with Ceasefire Hopes​

Gold declined below $3,320 per ounce as hopes for a ceasefire between Russia and Ukraine reduced the appeal of safe-haven assets. The drop followed a statement by US President Donald Trump announcing that both nations had agreed to "immediate" talks, potentially without US involvement, after a conversation with Russian President Vladimir Putin.

On Monday, gold had gained 0.6% in response to Moody’s downgrade of the US credit rating to Aa1 from Aaa, which raised concerns about long-term debt sustainability. However, with geopolitical tensions easing and investors awaiting fresh comments from Federal Reserve officials, gold reversed course.

XAU/USD now finds resistance at $3,250, with further levels at $3,300 and $3,350. On the downside, support is seen at $3,120, followed by $3,030 and $2,956.

 

[Z Forex]

Daily Analysis by zForex Research Team - 21.05.2025
Silver Holds Strong as Dollar Falters​

EUR/USD pushed higher toward 1.1330, lifted by a weaker dollar and cautious optimism around U.S. tariff de-escalation.

The Japanese yen gained strength, slipping USD/JPY below 144.00 as bets on a BoJ rate hike grew. Gold reclaimed ground above $3,300, fueled by renewed U.S. deficit concerns and G7 trade tensions with China. GBP/USD climbed toward 1.3400, with traders awaiting key UK inflation and PMI data, while silver hovered near $33.10.

GBP/USD Analysis by zForex Research Team - 21.05.2025
GBP/USD at 1.3400, PMI Data Awaited​

GBP/USD edged higher toward 1.3400, supported by dollar softness and cautious optimism before UK economic data. Markets are awaiting April’s CPI on Wednesday and both UK and U.S. PMI data on Thursday.

Trade developments remain a major driver of sentiment, with investors hoping the U.S. administration will scale back tariff threats, though little progress has been seen with the 90-day deadline approaching.

UK inflation is expected to rise, with monthly CPI seen at 1.1% and annual CPI reaching 3.3%, while core CPI may tick up to 3.6%. Thursday’s PMI data could further influence the pair, with modest UK strength and mixed U.S. figures forecast.
Resistance is at 1.3450, with higher levels at 1.3550 and 1.3700. Support stands at 1.3250, followed by 1.3150 and 1.3000.

Silver Analysis by zForex Research Team - 21.05.2025
Dollar Weakness Supports Silver at $33.10​

Silver hovered near $33.10 on Wednesday after a strong Tuesday rally, supported by broad dollar weakness and renewed demand for the metal. Uncertainty over U.S. trade policy, Moody’s downgrade of U.S. debt, and fiscal concerns have all contributed to the metal’s gains.
Despite easing slightly from session highs, silver maintains upside potential in the near term.
Resistance is located at $33.80, with further targets at $34.20 and $34.90. First support is found at $32.30, followed by $31.40 and $30.20.

 

[Z Forex]

Daily Analysis by zForex Research Team - 22.05.2025​

Euro and Pound Rise on U.S. Fiscal Worries
The euro and British pound extended their rallies on Thursday amid mounting concerns over the U.S. fiscal outlook, following Moody’s downgrade of the U.S. credit rating.

Gold and silver gained for the fourth and third consecutive sessions, respectively, supported by safe-haven flows and geopolitical tensions. The Japanese yen strengthened to a two-week high, while the dollar index slipped below 99.50 as investors digested tax policy risks and upcoming PMI releases.

EUR/USD Analysis by zForex Research Team - 22.05.2025​

Euro Extends Rally Ahead of PMI Data
EUR/USD trades near 1.1340 during Asian hours, close to two-week highs, extending gains for a fourth session ahead of Eurozone PMI data expected to show improved growth for May.

The U.S. dollar remains under pressure as markets await Thursday’s S&P Global PMI. Moody’s downgraded the U.S. credit rating to Aa1, matching earlier cuts by Fitch and S&P, citing rising debt, projected to reach 134% of GDP by 2035, and a nearly 9% deficit.

Trump’s tax-cut plan cleared the House Rules Committee, but the DXY still trades lower near 99.50.

The key resistance is located at 1.1390, and the first support stands at 1.1260.

USD/JPY Analysis by zForex Research Team - 22.05.2025​

JPY Hits 2-Week High as Dollar Weakens
The Japanese yen strengthened to around 143 per dollar on Thursday, its highest in over two weeks, as concerns over the U.S. fiscal outlook pressured the dollar. Fears that Trump’s proposed tax cuts could add over $3 trillion to U.S. debt weighed on investor confidence.

Japan’s Finance Minister Kato said he did not discuss currency levels with Treasury Secretary Bessent at the G7 summit.

Domestically, core machinery orders surged 13% in March, beating expectations of a 1.6% drop, while May PMI data showed continued weakness in both manufacturing and services.

 

[Z Forex]

Daily Analysis by zForex Research Team - 23.05.2025​

Euro Rebounds, Gold Holds Ground
EUR/USD rebounded near 1.1330 as Treasury yields fell and traders awaited Eurozone GDP data.

The yen strengthened while gold hovered near $3,300, supported by deficit worries and Middle East tensions. GBP/USD climbed on upbeat UK consumer and retail data, despite mixed PMIs. Meanwhile, silver stabilized above $33, supported by fiscal anxiety and strong industrial demand from renewable energy sectors in China and Europe.

EUR/USD Analysis by zForex Research Team - 23.05.2025​

EUR/USD Rebounds, Eurozone Data Eyed
EUR/USD climbed to around 1.1310 during Friday’s Asian session, rebounding as U.S. Treasury yields declined, the 30-year yield slipped from its 19-month high of 5.15%, weighing on the dollar. The recovery follows the House passing Trump’s fiscal bill, which revived deficit worries. Earlier, strong U.S. PMI figures (Composite: 52.1, Manufacturing & Services: 52.3) had briefly strengthened the dollar.

Fed Governor Waller hinted at possible rate cuts if tariffs stabilize, while Trump renewed threats of higher tariffs on the EU. On the European front, ECB officials expect inflation to return to near 2% by end-2025, though growth remains subdued. Eurozone PMIs showed services at 48.9 and manufacturing at 49.4. Focus now shifts to Germany’s GDP release.

Resistance is at 1.1390, with higher levels at 1.1460 and 1.1580. First support lies at 1.1260, followed by 1.1100 and 1.1050.

USD/JPY Analysis by zForex Research Team - 23.05.2025​

Yen Strengthens on Dollar Weakness
The Japanese yen firmed to around 143.6 per dollar, heading for a weekly gain of over 1% as inflation data came in stronger than expected. Core inflation surged to 3.5%, its highest in more than two years, while headline inflation held at 3.6%, reinforcing expectations that the BoJ may maintain its tightening stance.
The yen also benefited from continued dollar weakness tied to U.S. fiscal worries. Earlier, Japan’s Finance Minister Katsunobu Kato denied discussing exchange rates with U.S. Treasury Secretary Bessent at the G7 summit, dismissing rumors of joint currency intervention.
USD/JPY faces resistance at 148.60, with further upside levels at 149.80 and 151.20. Key support lies at 139.70, then 137.00 and 135.00.

 

[Z Forex]

Yen Analysis by zForex Research Team - 26.05.2025​

Yen Below 144.00 on Hawkish Bets
The Japanese Yen strengthened further on Wednesday, driving USD/JPY below 144.00 and marking a two-week low. Markets increasingly expect the Bank of Japan to hike rates again in 2025, spurred by recent hawkish remarks from Deputy Governor Shinichi Uchida and persistent inflation concerns. Rising U.S.-China tensions have also fueled demand.

Meanwhile, optimism around a potential U.S.-Japan trade deal adds to bullish sentiment for the yen, while the U.S. dollar remains under pressure with expectations for continued Fed rate cuts.

Resistance is located at 148.60, with further upside barriers at 149.80 and 151.20. Support is seen at 139.70, then 137.00 and 135.00.

EUR/USD Analysis by zForex Research Team - 26.05.2025​

EUR/USD Extends Recovery, Eyes 1.1330
EUR/USD extended its rebound for a third session on Wednesday, approaching the 1.1330 level but still trading well below the recent multi-year high of 1.1575. With European newsflow muted during the G7 summit, market focus has turned to U.S. trade developments. Investors are cautiously optimistic about potential progress in talks that could deter the Trump administration from enforcing aggressive tariff plans.

However, confidence is wavering as the 90-day tariff deadline nears, and no firm trade deals have materialized despite repeated announcements.
Key resistance is seen at 1.1425, with further levels at 1.1460 and 1.1580. First support lies at 1.1260, followed by 1.1100 and 1.1050.

Yen Analysis by zForex Research Team - 26.05.2025​

Yen Below 144.00 on Hawkish Bets
The Japanese Yen strengthened further on Wednesday, driving USD/JPY below 144.00 and marking a two-week low. Markets increasingly expect the Bank of Japan to hike rates again in 2025, spurred by recent hawkish remarks from Deputy Governor Shinichi Uchida and persistent inflation concerns. Rising U.S.-China tensions have also fueled demand.

Meanwhile, optimism around a potential U.S.-Japan trade deal adds to bullish sentiment for the yen, while the U.S. dollar remains under pressure with expectations for continued Fed rate cuts.

Resistance is located at 148.60, with further upside barriers at 149.80 and 151.20. Support is seen at 139.70, then 137.00 and 135.00.

 

[Z Forex]

Daily Analysis by zForex Research Team - 27.05.2025​

Euro at One-Month High, Fiscal Worries Hit Dollar
EUR/USD advanced toward $1.14 as U.S. fiscal concerns weighed on the dollar, while the yen touched a one-month high on inflation surprises and risk aversion.

Gold held firm near $3,340 with geopolitical caution and budget deficit worries. The British pound rallied past $1.357 on strong retail sales and Trump’s tariff delay, and silver edged down slightly on profit-taking, despite sustained interest and increased physical demand.

Gold Analysis by zForex Research Team - 27.05.2025​

Gold Holds Near $3,340 on Trade Hopes​

Gold remained steady at nearly $3,340 per ounce on Tuesday, with demand easing slightly due to renewed trade optimism after Trump pushed back EU tariffs to July 9. The EU pledged to speed up negotiations, lifting risk sentiment. However, worries over U.S. fiscal health, global trade dynamics, and geopolitical tensions kept markets cautious. Investors now await the FOMC minutes and PCE inflation data for policy cues.

Support is seen at $3,270, while resistance is located at $3,370. Further levels include $3,150 and $3,025 below, and $3,440 and $3,500 above.

GBP/USD Analysis by zForex Research Team - 27.05.2025​

Pound Tops $1.357 on Solid Data​

GBP/USD advanced above $1.357, hitting its highest level since February 2022, as Trump’s delay of the 50% EU tariff boosted global sentiment. The pound also gained from promising April data, with retail sales rising 1.2%, marking the fourth monthly gain. Inflation stayed high at 3.5%, adding uncertainty over the BoE’s next move. Markets now price in a 50% chance of a rate cut by August, with another possible by year-end.

Support lies at 1.3425, with resistance at 1.3600. Other key levels are 1.3850 and 1.3750 above, and 1.3165 and 1.2890 below.

 

[Z Forex]

Daily Analysis by zForex Research Team - 28.05.2025​

Dollar Gains on Strong U.S. Confidence Data​

The U.S. dollar strengthened on Wednesday, supported by a sharp rebound in consumer confidence and falling Treasury yields. EUR/USD dipped to 1.1310 despite an extension of the EU tariff deadline to July 9. USD/JPY climbed above 144.5 as bond market jitters and BOJ uncertainty weighed on the yen.

EUR/USD Analysis by zForex Research Team - 28.05.2025​

EUR/USD Slips Despite EU Tariff Delay Extension
EUR/USD traded near 1.1310 in Asia on Wednesday, down for a second day as the dollar rose on lower Treasury yields and strong US data. Yields fell after Japan signaled possible cuts in debt issuance, with US 10- and 30-year yields at 4.46% and 4.97%, respectively.
The dollar gained further as May consumer confidence rose to 98.0 from 86.0. April durable goods orders dropped 6.3%, less than the expected 7.9% fall. Markets await the FOMC minutes for policy signals.
The euro found support as Trump extended the EU tariff deadline to July 9, with Brussels fast-tracking talks. Trump welcomed the move as a "positive event."
Resistance is at 1.1425, with additional levels at 1.1460 and 1.1580. Support begins at 1.1260, followed by 1.1100 and 1.1050.

Yen Analysis by zForex Research Team - 28.05.2025​

Yen Drops as BOJ Comments and Auction Worries Weigh
The Japanese yen fell beyond 144.5 per dollar on Wednesday, marking its third straight session of losses amid growing policy uncertainty and bond market shifts. Bank of Japan Governor Ueda pointed to U.S. trade negotiations as contributing to economic uncertainty, while Finance Minister Kato emphasized close monitoring of bond markets. The yen and yields declined on Tuesday following reports of a potential reduction in super-long bond issuance after weak demand at a recent 20-year auction. Markets now turn their focus to the upcoming 40-year bond sale.

Resistance stands at 148.60, with further levels at 149.80 and 151.20. Support is found at 139.70, then 137.00 and 135.00.

 

[Z Forex]

Daily Analysis by zForex Research Team - 29.05.2025​

The Market Moves as Tariff Ruling Lifts Dollar
The U.S. dollar strengthened on Thursday after a federal court blocked Trump's proposed tariffs, fueling optimism and reducing safe-haven demand. EUR/USD slipped near 1.1240 ahead of key U.S. economic data.

Gold extended its decline, falling below $3,260, while silver held steady around $33.15. The Japanese yen stabilized but remained weak amid BOJ uncertainty. GBP/USD hovered near 1.3435, supported by delayed BoE cut expectations.

Gold Analysis by zForex Research Team - 29.05.2025​

Gold Extends Decline as Safe-Haven Demand Weakens
Gold fell below $3,260 on Thursday, its fourth straight decline, as easing tariff fears reduced safe-haven demand. The drop followed a U.S. court ruling that Trump exceeded his authority in imposing tariffs, ordering their removal. The decision is expected to be appealed. Fed minutes showed a cautious stance as officials assess policy impacts, citing risks of both inflation and job losses. Meanwhile, U.S. gold exports to Switzerland surged in April after metal tariffs were lifted, shifting global trade flows.
The first critical support for gold is seen at the $3245 and the first resistance is located at $3295.

GBP/USD Analysis by zForex Research Team - 29.05.2025​

Sterling Holds Ahead of U.S. GDP
GBP/USD trades near 1.3435 on Thursday, pressured by a stronger US Dollar after a court blocked Trump’s “Liberation Day” tariffs, ruling he lacked authority to impose them. Markets now await preliminary US Q1 GDP data. Fed minutes showed rising uncertainty, with policymakers favoring a cautious, steady rate path. In the UK, food inflation rose for a fourth month, prompting Barclays to delay its rate cut forecast to February 2026, which may support the Pound.
The first critical support for gold is seen at 1.3425 and the first resistance is located at 1.3600.

 

[Z Forex]

Daily Analysis by zForex Research Team - 06.02.2025​

Markets React to Tariff Escalation and Central Bank Signals

Global markets kicked off the week on edge as renewed tariff threats from the U.S. and escalating geopolitical risks spurred demand for safe-haven assets.
The euro found some footing after ECB officials hinted at further policy moves, while the yen and gold strengthened amid rising trade and war concerns. Meanwhile, silver tracked gold higher, and the pound inched up on Fed rate cut hopes. Legal developments in U.S. tariff policy and looming economic data releases continue to shape investor sentiment.

EUR/USD Analysis by zForex Research Team - 06.02.2025​

ECB Signals More Action as Eurozone Outlook Wavers
EUR/USD rebounded to near 1.1370 in Monday’s Asian session as the US Dollar weakened after legal shifts in tariff rulings. On Thursday, the US Court of Appeals backed Trump’s tariff policy, overturning Wednesday’s lower court decision that had declared his April 2 executive orders unlawful.
Trade tensions escalated as Trump announced plans to double tariffs on steel and aluminum imports to 50%. In response, the European Commission warned it would retaliate, despite both sides agreeing to accelerate talks after extending the EU tariff deadline to July 9.

Meanwhile, Eurozone economic concerns persist. ECB’s Klaas Knot cited inflation uncertainty, while François Villeroy de Galhau said policy normalization is likely not finished, suggesting more action ahead.
The key resistance is located at 1.1460 and the first support stands at 1.1300.

Yen Analysis by zForex Research Team - 06.02.2025​

Yen Rises Amid Trump Tariff Threat and China Dispute
The Japanese yen rose to around 143.5 per dollar on Monday, marking its third straight session of gains as rising global trade tensions lifted demand for safe-haven currencies. The move followed President Trump’s threat on Friday to double tariffs on steel and aluminum imports to 50% starting June 4. Japanese steelmakers like JFE Holdings and Kobe Steel fell, while Nippon Steel was less affected after Trump praised its planned merger with U.S. Steel. Meanwhile, U.S.-China tensions grew as China denied Trump’s claim of breaching a recent Geneva trade agreement. On the domestic front, Japan’s Q1 capital spending beat expectations, with investment rising across both manufacturing and services, reflecting solid internal momentum.
The key resistance is at $143.50 meanwhile the major support is located at $143.00.

 

[Z Forex]

Daily Analysis by zForex Research Team - 06.03.2025
Tariff Tensions Fuel Precious Metals, Pressure on Yen and Dollar​

Markets reacted sharply to renewed trade war fears as Trump’s tariff threats and rising U.S.–China tensions drove investors toward safe-haven assets. The euro rose above $1.14, while gold and silver rallied on geopolitical concerns.

The British pound gained on dollar weakness ahead of key economic data, while the yen slipped despite hawkish BoJ signals. Attention turns to the ECB meeting and Friday’s U.S. jobs report for further direction.

EUR/USD Analysis by zForex Research Team - 06.03.2025

Euro Gains as U.S. Tariff Risks Weigh on Dollar
The euro climbed above $1.14 on Tuesday, its highest level since April 21, as investors pulled back from U.S. assets amid growing trade policy uncertainty. The move followed President Trump’s threat to double steel and aluminum tariffs and renewed tensions with China over a broken tariff truce. Focus now shifts to Thursday’s ECB meeting and Friday’s U.S. jobs data. While a 25 basis point rate cut is expected, attention will be on forward guidance as some ECB officials have urged caution to assess the impact of U.S. tariffs on inflation and growth.
The key resistance is located at 1.1460 and the first support stands at 1.1300.

Gold Analysis by zForex Research Team - 06.03.2025​

Gold Steady as Markets Eye Trump-Xi Meeting​

Gold slipped to around $3,370 per ounce on Tuesday but remained near a four-week high, supported by ongoing safe-haven demand. The metal surged 2.8% on Monday, its strongest daily gain since May 6, amid escalating trade and geopolitical tensions. President Trump announced plans to double tariffs on steel and aluminum, while U.S.-China tensions rose after he accused China of breaking a trade deal. Markets now await a possible meeting between Trump and President Xi. Meanwhile, Russia and Ukraine resumed peace talks on Monday, though little progress was made.
The first critical support for gold is seen at $3320 and the first resistance is located at $3385.

 

[Z Forex]

Daily Analysis by zForex Research Team - 06.13.2025​

Geopolitical Tensions Fuel Market Volatility​

Markets turned risk-averse on Friday after Israel launched strikes on Iranian targets, escalating Middle East tensions. The US Dollar and Yen gained as safe-haven demand increased, while gold surged above $3,440. EUR/USD and GBP/USD retreated, pressured by the stronger dollar and geopolitical fears.

Meanwhile, silver corrected slightly from recent highs, though rate cut hopes and industrial demand kept it supported. Investors now await further data for clues on monetary policy direction.

EUR/USD Analysis by zForex Research Team - 06.13.2025​

EUR/USD Slips on Geopolitical Tensions​

EUR/USD dropped to around 1.1530 on Friday, ending a four-day rally, as safe-haven demand lifted the US Dollar amid rising Middle East tensions.
Israel struck Iranian targets to weaken its nuclear program, prompting emergency measures. The US denied involvement but warned Iran not to target its assets.
Trump’s plan to expand steel tariffs from June 23 added trade uncertainty, while soft US inflation data kept Fed rate cut hopes alive. Markets now await the US Michigan Sentiment report for further signals. Resistance is located at 1.1580, while support is seen at 1.1460.

EUR/USD Analysis by zForex Research Team - 06.13.2025​

Yen Rallies as Risk Aversion Returns​

The Japanese yen strengthened to approximately 143 per dollar, marking a third consecutive day of gains as investors turned to safe-haven assets following Israel’s preemptive strike on Iran. The operation, aimed at nuclear facilities, heightened global risk aversion. Adding to market uncertainty were renewed U.S. tariff threats by Trump. Meanwhile, BoJ Governor Ueda reiterated the bank’s readiness to raise interest rates if inflation nears the 2% target.

Resistance is at 145.30, while support stands near 142.50.

 

[Z Forex]

Daily Analysis by zForex Research Team - 06.17.2025​

Markets Pause Before Fed Amid Global Tensions
Markets remained steady on Tuesday as investors awaited the Federal Reserve’s rate decision. While EUR/USD hovered near multi-year highs on easing Israel-Iran tensions, safe-haven demand lifted gold and silver. The yen weakened after the BoJ maintained its stance, and GBP/USD traded flat ahead of key UK inflation data.

Geopolitical concerns, trade uncertainties, and central bank forecasts continue to shape sentiment across assets.

EUR/USD Analysis by zForex Research Team - 06.17.2025​

EUR/USD Holds Near Multi-Year High on Easing Tensions
EUR/USD trades around 1.1560 for a second day, staying near the June 12 peak of 1.1631, its highest since October 2021, as easing Israel-Iran tensions support risk sentiment.
Iran reportedly urged Oman, Qatar, and Saudi Arabia to press Trump for a ceasefire, while G7 leaders reaffirmed opposition to an Iranian nuclear weapon and called for de-escalation.
The Euro gains from diverging policy views. ECB rate cut odds for September dropped to 50%, with the end-2025 deposit rate seen at 1.79%. ECB’s Nagel stressed policy flexibility.
The Fed is expected to hold rates Wednesday, with attention on new forecasts and the dot plot as markets weigh a possible September cut.
Resistance is located at 1.1580, while support is seen at 1.1460.

Yen Analysis by zForex Research Team - 06.17.2025​

Yen Weakens as BOJ Holds Rates, Trump-Ishiba Talks Stall
The Japanese yen weakened toward 145 per dollar on Tuesday, its third straight loss, after the BOJ held rates at 0.5% and reaffirmed its bond tapering plan through March 2026, while leaving room for adjustments.
Policymakers remain cautious amid rising oil-driven inflation and unclear U.S. trade policy. The yen also slipped after reports that Prime Minister Ishiba and President Trump failed to reach a tariff deal at the G7 summit.
Meanwhile, the dollar strengthened on safe-haven demand and inflation concerns, as Trump called for a full evacuation of Tehran and criticized Iran’s rejection of his nuclear deal.
Resistance is at 145.30, while support stands near 142.50.

 

[Z Forex]

Daily Analysis by zForex Research Team - 06.18.2025​

Safe-Haven Demand Lifts Dollar as Fed Looms
Markets remained cautious on Wednesday as safe-haven flows supported the US dollar ahead of the Federal Reserve’s rate decision.
EUR/USD slipped near 1.15, while the yen steadied and gold hovered close to $3,390 amid ongoing Israel-Iran conflict. Sterling stayed flat before key UK and US policy announcements, and silver edged higher with investors awaiting Powell’s guidance.

Gold Analysis by zForex Research Team - 06.18.2025​

Gold Steady Near $3,390 Ahead of Fed Decision
Gold rebounded from early losses on Wednesday, returning to around $3,390 as the Iran-Israel conflict entered its sixth day. Israel confirmed strikes near Tehran and reported missile launches from Iran, while President Trump’s national security meeting fueled speculation about potential U.S. involvement. Investors also focused on the Federal Reserve meeting, with no rate change expected but attention on guidance amid trade tensions and global uncertainty.
Resistance is seen at $3,430, while support holds at $3,350.

Silver Analysis by zForex Research Team - 06.18.2025​

Silver Up Slightly as Markets Await Powell
XAG/USD rose 0.3% to $37.23 on Wednesday, though gains were capped by a stronger U.S. dollar as investors turned to safe assets amid escalating geopolitical tensions and caution ahead of the Federal Reserve’s decision. Silver’s safe-haven appeal remained, but the firmer dollar made it less attractive for non-dollar buyers. Markets are now watching Fed Chair Jerome Powell’s remarks for clues on future policy and near-term direction for silver.
Resistance is set at 37.50, while support stands at 35.40.

 

[Z Forex]

Daily Analysis by zForex Research Team - 06.19.2025​

Markets React to Hawkish Fed and Geopolitical Tensions
The U.S. dollar strengthened on Thursday as the Fed signaled fewer rate cuts ahead, citing inflation risks and geopolitical uncertainty. EUR/USD fell near 1.1465, while the yen weakened and GBP/USD slipped toward 1.3410.

Gold rebounded above $3,370 on safe-haven flows as the Israel-Iran conflict intensified. Silver held firm near multi-year highs, while traders await further central bank signals.

EUR/USD Analysis by zForex Research Team - 06.19.2025​

EUR/USD Slips as Fed Stays Hawkish
EUR/USD fell toward 1.1465 in Thursday’s Asian session, pressured by a risk-off mood as Middle East tensions rise. The focus shifts to speeches from ECB officials Lagarde, Nagel, and de Guindos for further guidance.
On Wednesday, the Fed held rates at 4.25%–4.50% and signaled a slower pace of cuts, citing inflation risks from Trump’s new tariffs. The FOMC still projects two cuts in 2025
Bloomberg reported the US may strike Iran in the coming days, raising safe-haven demand for the dollar and adding pressure on the euro. ECB’s Lagarde said rate cuts are nearly done and that the ECB is well-positioned to manage current uncertainties.
Resistance is located at 1.1475, while support is seen at 1.1415

GBP/USD Analysis by zForex Research Team - 06.19.2025​

BoE in Focus as GBP/USD Nears 1.3410
GBP/USD remains under pressure for a third day, trading near 1.3410 in Thursday’s Asian session, as safe-haven demand strengthens the US Dollar amid Israel-Iran tensions. The BoE is expected to hold rates at 4.25% today. UK inflation eased to 3.4% in May from 3.5%, in line with forecasts but still above the 2% target. Markets still price in about 48 basis points of BoE cuts by year-end.
Resistance is seen at 1.3440, while support holds at 1.3260.

 

[Z Forex]

Daily Analysis by zForex Research Team - 06.20.2025​

Dollar Faces Pressure, Precious Metals Retreat
EUR/USD hovered near 1.1520 on Fed hawkishness and rising Middle East tensions, while demand offered potential support to the dollar.

The yen strengthened as Japan’s core inflation hit a 16-month high, fueling expectations of further BOJ tightening. Gold slipped below $3,360 as investors sold off with geopolitical risks and limited Fed rate-cut prospects. GBP/USD steadied near 1.34 following a divided BoE vote, and silver retreated from a 13-year high.

EUR/USD Analysis by zForex Research Team - 06.20.2025​

EUR/USD Slips as Fed Stays Hawkish
EUR/USD hovered near 1.1520 during Friday’s Asian session, extending gains for a third day as the US dollar weakened, likely due to a technical pullback. However, the greenback may rebound as safe-haven demand grows amid rising tensions between the US and Iran.
Citing senior US intelligence, The New York Times reported that Iran hasn’t yet decided to pursue nuclear weapons, despite having enriched uranium reserves. Meanwhile, the Senate Intelligence Committee Chair said President Trump is set to offer Iran one final window to negotiate before considering military action, potentially delaying any decisions for up to two weeks.
Markets are also awaiting Friday’s Monetary Policy Report from the Federal Reserve, which will provide fresh insights into the Fed’s stance. On the Euro side, the ECB’s hawkish outlook offered additional support, with President Christine Lagarde suggesting rate cuts may soon end as the central bank remains “well positioned” to handle persistent risks.
Resistance is located at 1.1530, while support is seen at 1.1450

Gold Analysis by zForex Research Team - 06.20.2025​

Gold Falls as Mideast Tensions Rise
Gold dropped below $3,360 per ounce, hitting a one-week low and on track for its first weekly decline in three. Investors trimmed holdings to cover losses in other markets, with risk sentiment shaken by the intensifying conflict between Israel and Iran. Israeli strikes reportedly targeted key sites in Tehran following an Iranian missile strike on an Israeli hospital.
Uncertainty also surrounds the US response, with President Trump weighing direct military action. A decision is expected within two weeks.
Despite the Fed holding rates steady and signaling two potential cuts this year, Chair Powell cautioned that tariffs could push inflation higher. New Fed projections flagged slower growth, higher prices, and weaker job markets in 2025. This could limit rate cuts, dampening gold’s appeal as a non-yielding asset.
Resistance is seen at $3,370, while support holds at $3,316.

 

[Z Forex]

Daily Analysis by zForex Research Team - 06.23.2025​

Trump’s Iran Strike Fuels Dollar Rally, Pressures Euro and Gold​

Markets opened the week gripped by fresh geopolitical risks after U.S. forces struck Iranian nuclear sites, prompting a wave of safe-haven demand.

The dollar surged as tensions escalated, pulling EUR/USD lower and weighing on risk assets. Gold held near recent highs, while silver rebounded on renewed uncertainty. Central bank outlooks and PMI data remain in focus for the week ahead.

EUR/USD Analysis by zForex Research Team - 06.23.2025​

Trump’s Strike on Iran Lifts Dollar, Weighs on Euro​

EUR/USD dipped to around 1.1480 in early Asian trading Monday as the dollar strengthens following President Trump’s decision to join Israel’s war on Iran, escalating the conflict. Over the weekend, US forces struck three Iranian nuclear sites; Fordo, Natanz, and Isfahan. Trump claimed the facilities were “totally obliterated” and warned of harsher attacks unless Iran seeks peace. The escalation supports safe-haven demand for the dollar, pressuring EUR/USD.

Meanwhile, the ECB cut rates for the eighth time this year but signaled a pause in July. President Lagarde said cuts are nearing an end, which may help limit euro losses.

Resistance is located at 1.1530, while support is seen at 1.1450

Gold Analysis by zForex Research Team - 06.23.2025​

Middle East Conflict Keeps Gold Elevated​

Gold traded near $3,360 per ounce in choppy conditions on Monday, as investors closely watched developments in the intensifying Middle East conflict following U.S. involvement in Israeli airstrikes on Iran. Over the weekend, U.S. forces targeted Iran’s three main nuclear facilities, with President Donald Trump warning of further action unless Tehran agrees to peace. The eruption of war between Israel and Iran has added new fuel to a rally that has pushed gold prices up nearly 30% this year.

Resistance is seen at $3,395, while support holds at $3,316.

 

[Z Forex]

Daily Analysis by zForex Research Team - 06.24.2025​

Ceasefire and Fed Dovishness Pressure US Dollar
The euro climbed to a fresh weekly high near 1.1610 on Tuesday as the US dollar weakened sharply after President Trump announced a ceasefire between Israel and Iran.
The news improved market confidence and reduced demand for safe-haven assets like the dollar, pushing the Dollar Index down from 99.42 to 98.10. On top of that, Fed Governor Michelle Bowman signaled support for a possible rate cut in July, citing rising concerns over the job market.

USD/JPY Analysis by zForex Research Team - 06.24.2025​

Yen Rebounds as Ceasefire Calms Markets
The Japanese yen recovered to around 145.5 per dollar on Tuesday, gaining strength after the ceasefire announcement. Although Iran launched missiles at a US base in Qatar, causing no casualties, the gesture was largely seen as symbolic. Tehran’s decision not to target the Strait of Hormuz further eased fears of major disruptions.
The key resistance is at $146.20 while the major support is at $144.85.

GBP/USD Analysis by zForex Research Team - 06.24.2025​

British Pound Slips to One-Month Low
GBP/USD briefly climbed to 1.3560 in early European trading, supported by dollar softness and anticipation of upcoming speeches from BoE Governor Bailey and Fed Chair Powell. However, the pair remains under pressure, as market doubts linger around the ceasefire’s durability, especially after new missile activity by Israel’s IDF.
Fed rate cut expectations continue to build: odds for July are now at 23%, and 78% for September, fueled by dovish remarks from Governor Bowman.
Resistance is seen at 1.3600, while support holds at 1.3500.

 

[Z Forex]

Daily Analysis by zForex Research Team - 06.25.2025​

Risk Sentiment Improves; Dollar Down
Markets remained cautiously optimistic on Wednesday as the ceasefire between Israel and Iran lifted risk sentiment, improving the euro, pound, and silver while weighing on the US dollar. EUR/USD edged up toward 1.1620, supported by hopes of a de-escalation in the conflict and slightly rising July rate cut odds.

The yen held firm near recent highs with BOJ caution and demand. Gold rebounded to $3,330 as ceasefire fragility and diverging Fed views stirred uncertainty, while GBP/USD neared 1.3650, its highest since February 2022. Silver continued to outperform gold, climbing toward $36, driven by solid industrial demand and a weaker dollar.

EUR/USD Analysis by zForex Research Team - 06.25.2025​

EUR/USD Nears 1.1620 Before Powell’s Testimony
EUR/USD edged up to 1.1615 in early European trading on Wednesday, supported by improved risk sentiment after Israel and Iran signaled an end to their air conflict. The truce, backed by pressure from President Trump, increased appetite for risk assets, favoring the euro over the dollar.
All eyes are now on Fed Chair Jerome Powell, who reiterated on Tuesday that monetary policy will remain data-driven. However, comments from Kansas City Fed President Schmid hinted at caution due to tariff-driven inflation. While markets expect a rate cut in September, July odds have edged slightly higher.
Resistance is at 1.1630, while support is at 1.1530.

Gold Analysis by zForex Research Team - 06.25.2025​

Gold Rebounds on Ceasefire Fragility​

Gold edged back up to around $3,330, recovering from a two-week low. While the Israel-Iran ceasefire brought temporary calm, a US intelligence report showed that Iran’s nuclear progress was only briefly disrupted, raising concerns about renewed tensions.
Fed Chair Powell adopted a cautious stance, saying rates would likely stay unchanged for now, though a July cut remains possible. Diverging views among Fed members on inflation and job data may limit gold’s upside in the near term.
Resistance is seen at $3,355, while support holds at $3,285.

 

[Z Forex]

Daily Analysis by zForex Research Team - 06.30.2025​

Fed Rate Cut Speculation Weighs on Dollar​

The US dollar weakened across the board as markets grew more confident in a potential Fed rate cut, following disappointing personal spending and income data.

The euro climbed to 1.1720, while the yen approached 144, supported by fiscal concerns and dovish Fed sentiment. GBP/USD edged higher ahead of UK GDP, aided by persistent inflation and political tensions. Gold fell toward a one-month low as easing geopolitical risks and a US-China trade deal dampened safe-haven demand. Meanwhile, silver rebounded above $36 with a softer dollar and lingering trade uncertainty.

USD/JPY Analysis by zForex Research Team - 06.30.2025​

Fed Dovishness Supports Yen Upside
The Japanese yen climbed toward the 144 level as the dollar weakened with a dovish outlook from the Federal Reserve, increasing concerns over the US fiscal position, and lingering trade uncertainties. This week’s US employment data might reveal signs of a cooling labor market.
In Japan, industrial production in May rose less than expected, with high US tariffs continuing to weigh on economic prospects. The ongoing 25% tariff on Japanese automobile exports remains a major concern in trade negotiations between the US and Japan, with little reported progress. Tuesday’s Bank of Japan Tankan survey will offer fresh perspectives on business sentiment and the overall economic outlook.
The key resistance is at $145.70, the major support is located at $143.55.

EUR/USD Analysis by zForex Research Team - 06.30.2025​

EUR/USD Climbs on Weak Spending Data
The EUR/USD pair rose to 1.1720 during early Asian trading this Monday, supported by an underperforming US dollar. The Greenback came under pressure as markets grew more confident that the Federal Reserve is most likely to begin cutting rates in September.
Friday’s data showed US personal spending unexpectedly declined in May while personal income marked the sharpest decline since September 2021, falling by 0.4%.
Focus in Europe turns to Germany’s upcoming retail sales and CPI data. ECB Governing Council member Klaas Knot stated Friday that the current interest rate is appropriate, but hinted at one more 25 basis point cut by the end of 2025. Markets still believe there will only be one ECB rate cut over the next year, with rates expected to bottom at 1.75%.
Resistance for the pair is at 1.1745, while support is at 1.1630.

 

[Z Forex]

Daily Analysis by zForex Research Team - 07.01.2025​

Dollar Sinks as Fiscal Worries Increase
Markets remained sensitive on Tuesday as the US dollar weakened with growing fiscal concerns, stalled trade negotiations, and rising expectations of a September Fed rate cut.
EUR/USD hovered near 1.1790 as uncertainty loomed over the fate of suspended tariffs, while soft German inflation data capped euro gains. The Japanese yen firmed after Trump threatened new tariffs on Japan, though local business sentiment surprised to the upside. Gold climbed above $3,320, supported by geopolitical unease and Fed rate cut bets. Silver stayed resilient around $36, with eyes on Trump’s tariff deadline and fiscal debates in the Senate.

Silver Analysis by zForex Research Team - 07.01.2025​

Trade Uncertainty Keeps Silver Supported
Silver prices held steady around $36 per ounce after a strong performance in June. Meanwhile, market participants are watching the US Senate’s efforts to pass President Trump’s expansive tax-cut and spending package before the July 4 deadline.
Attention remains focused on whether the US can finalize agreements with key partners before the expiration of Trump’s 90-day tariff reprieve next week.
Resistance is seen at 36.85, while support holds at 35.40.

EUR/USD Analysis by zForex Research Team - 07.01.2025​

EUR/USD Stuck Near 1.1790 as Dollar Stalls
The EUR/USD pair remained under pressure near 1.1790 during early European trading on Tuesday, as the US Dollar struggled with rising fiscal concerns and uncertainty surrounding trade negotiations.
According to the Financial Times, US officials are now after smaller, phased trade deals to avoid the reactivation of suspended tariffs. With the July 9 deadline approaching, the Trump administration is reportedly focused on reaching agreements with the most engaged nations, keeping market sentiment fragile and weighing on the currency.
More pressure on the USD comes from growing investor unease over the Senate’s efforts to pass Trump’s tax cut and spending package, which faces internal opposition due to its projected $3.3 trillion increase to the national debt.
The preliminary data from Germany showed inflation easing. The Harmonized Index of Consumer Prices (HICP) rose just 2.0% year-on-year in June, down from 2.1% and below expectations of 2.2%. Inflation increased by only 0.1% monthly, missing the forecast of 0.3%. These figures could limit further gains for the euro, even as the dollar weakens. Later in the day, attention turns to the Eurozone’s HICP data and the US ISM Manufacturing PMI, which is expected to provide further direction for the pair.
Resistance for the pair is at 1.1850, while support is at 1.1730.