Technical Analysis By zForex

[Z Forex]

Markets Embrace Cautious Optimism (04.14.2026)​

Markets shifted toward risk-on sentiment as easing geopolitical tensions and uncertainty around Federal Reserve policy pressured the U.S. dollar.

The dollar index hovered near 98.3, holding close to six-week lows as improving sentiment encouraged a shift toward riskier assets.

Bond markets reflected the same shift. The US 10-year Treasury yield remained near recent lows around 4.29%, while Japan’s 10-year government bond yield eased to roughly 2.45%, pulling back from multi-decade highs as softer oil prices reduced inflation pressure.

Economic Calendar

EUR/USD Nears 1.18​

EUR/USD rose to the 1.1765–1.1770 zone, hitting a peak not seen since March as the US dollar suffered its eighth straight day of losses. Hopes for a diplomatic breakthrough between the US and Iran, coupled with unclear Federal Reserve policy, have dampened dollar demand.

While improved risk appetite lifted the euro toward the 1.1800 mark, persistent threats to the Strait of Hormuz and potential energy shortages may cap these gains by restoring the dollar's appeal as a safe haven.

For EUR/USD, the initial resistance is seen at 1.1770, while the closest support is positioned at 1.1640.

Gold Recovers on Diplomatic Hopes​

Gold climbed to approximately $4,760 on Tuesday, rebounding as the US and Iran signaled interest in negotiating a long-term ceasefire before their current truce expires. President Trump noted that Iran initiated contact following the US naval blockade of the Strait of Hormuz, while Iranian President Pezeshkian expressed readiness for talks under international law.

Easing oil prices further dampened inflation fears, lowering expectations for higher interest rates. Even with this recovery, gold remains roughly 10% below its valuation from the start of the conflict.

First resistance is seen at $4800, with initial support near $4610.

USD/JPY Eases From 160.00​

USD/JPY pulled back from the 160.00 level as improving market sentiment dampened demand for the safe-haven US dollar. Optimism regarding a potential resolution to the US–Iran conflict encouraged investors to move away from defensive positions.

The yen found support as traders anticipated a Bank of Japan rate hike in April, following the decision to hold rates at 0.75% in March. Market focus now shifts to US Producer Price Index data and upcoming Federal Reserve remarks, both of which are expected to influence interest rate outlooks and drive further volatility.

Initial resistance stands at 160.20, while the first support is located at 159.00.

Sterling Hits Seven-Week High​

GBP/USD climbed past the 1.3500 threshold, reaching its highest point in seven weeks as the US dollar lost momentum. Although the announcement of a US blockade in the Strait of Hormuz caused a momentary flight to safety, investors quickly returned to riskier assets amid growing optimism for a diplomatic resolution between the US and Iran.

From a technical view, support stands near 1.3510, with resistance around 1.3350.

Silver Rebounds Above $76​

Silver rose toward $76 on Tuesday, recouping recent losses as the US and Iran signaled interest in negotiating a long-term ceasefire before their current truce ends. President Trump stated that Iran initiated contact following the US naval blockade of the Strait of Hormuz, while President Pezeshkian confirmed readiness for talks under international law.

Easing oil prices further lowered inflation fears, softening the outlook for restrictive central bank policies and providing extra support for the metal.

From a technical view, resistance stands near $77.70 while support is located around $73.00.

Nasdaq 100​

The US 100 Tech Index traded at 25,465, posting a daily gain of 1.06%. Over the past four weeks, the index has advanced by around 3.29%, while its annual performance remains notably strong at 35.24%.

Despite the recent momentum, forward projections point to a more cautious outlook. The index is expected to move toward 24,431 by the end of the current quarter, with the possibility of a deeper pullback toward 22,484 over the next year.

From a technical perspective, resistance is seen around the 25,810 level. On the downside, initial support is located near 25,250.

Brent Crude Oil​

Brent crude surged roughly 8% to around $103 per barrel, recovering last week’s losses after the United States confirmed a blockade targeting vessels entering or leaving Iranian ports following unsuccessful negotiations.

Washington cited ongoing nuclear concerns, while Tehran reportedly sought broader concessions, including control over the strait and access to frozen assets.

Brent’s resistance is seen at 104.40, with initial support near 100.00.