Technical Analysis By zForex

[Z Forex]

Daily Analysis by zForex Research Team - 09.05.2025​

EUR/USD edged higher near 1.1230, supported by a weaker dollar but capped by ECB rate cut expectations. The yen slipped past 145 as a preliminary US-UK trade deal and Fed hawkishness lifted the greenback.

EUR/USD edged higher near 1.1230, supported by a weaker dollar but capped by ECB rate cut expectations. The yen slipped past 145 as a preliminary US-UK trade deal and Fed hawkishness lifted the greenback. Gold and silver both eased, with gold dipping toward $3,290 and silver trading near $32.50 on waning safe-haven demand. GBP/USD held around 1.3240 after initial gains from a BoE rate cut faded with concerns over lingering US tariffs.

EUR/USD Analysis by zForex Research Team - 09.05.2025​

Euro Nears 1.1230 on Cautious ECB​

EUR/USD edged up to 1.1230 in Friday’s Asian session, paring earlier losses caused by stronger U.S. data and easing trade tensions that supported the dollar. The euro remains under pressure as markets price in possible ECB rate cuts by June, though officials maintain confidence in inflation reaching the 2% target by year-end.
The pair faces resistance at 1.1260, with further upside capped near 1.1460 and 1.1580. On the downside, support is seen at 1.1150, followed by 1.1100 and 1.1050.

Gold Analysis by zForex Research Team - 09.05.2025​

Gold Slips Toward $3,290 on Trade Optimism​

Gold extended losses for a third day, dropping toward $3,290 as market appetite for risk improved ahead of U.S.-China trade talks. The announcement of a U.S.-UK trade deal also contributed to reduced safe-haven demand. The Fed held rates steady as expected, warning of risks to inflation and jobs but avoiding any hint of preemptive cuts. Still, gold is poised for a weekly gain.
Resistance is seen at $3,360, $3,430, and $3,500, while support holds at $3,270, $3,200, and $3,165.