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.

 

[Z Forex]

Daily Analysis by zForex Research Team - 14.05.2025​

Soft CPI Lifts EUR, Weighs on USD
Soft U.S. inflation data weakened the dollar and lifted risk sentiment. EUR/USD climbed toward 1.1200, supported by falling U.S. CPI, while USD/JPY slipped toward 147 as the yen rebounded.

Gold dipped below $3,230 despite Fed rate cut bets, and silver retreated to mid-$31s after briefly breaching $33. GBP/USD held firm near 1.3300, steadying after tariff relief and ahead of key UK growth data.

EUR/USD Analysis by zForex Research Team - 14.05.2025​

EUR/USD at 1.1200 as Dollar Weakens on Soft CPI
EUR/USD climbed to around 1.1195 in Wednesday’s Asian session, recovering after a sharp 2.5% drop. The rebound followed underperforming U.S. CPI data for April, with annual inflation slowing to 2.3% from 2.4%, the lowest since February 2021.
Core CPI remained steady at 2.8%, in line with expectations. The softer data pressured the U.S. dollar and lifted the euro. Attention now shifts to Germany’s HICP release for fresh direction.
The pair faces resistance at 1.1260, with further upside at 1.1460 and 1.1580, while support sits at 1.1040, followed by 1.1000 and 1.0960.

Gold Analysis by zForex Research Team - 14.05.2025​

Gold Under $3,230 with Risk-On Mood
Gold edged lower to around $3,230 in Wednesday’s session, facing selling pressure after optimism over a U.S.-China trade breakthrough reduced safe-haven demand. The recent tariff agreement lifted broader market sentiment, keeping gold near its weekly lows.
However, softer U.S. inflation data raised expectations for potential Fed rate cuts, slightly supporting the non-yielding metal. Traders await a firm break below the $3,200 level for signs of deeper downside.
Gold sees resistance at $3,325, $3,360, and $3,440, while support is held at $3,235, $3,200, and $3,165.

 

[Z Forex]

Daily Analysis by zForex Research Team - 15.05.2025​

Inflation Softens and Trade Momentum Builds​

The euro regained ground near 1.1200, supported by reserve status momentum and a weaker dollar, while the Japanese yen strengthened on growing pressure to eliminate U.S. car tariffs.

Gold hovered near $3,155 after a sharp drop, weighed by improved risk appetite, and silver slipped below $31.90 despite soft inflation data aiding foreign demand. Meanwhile, GBP/USD climbed toward 1.3300, supported by easing U.S. tariffs on British goods and expectations for key UK GDP data.

EUR/USD Analysis by zForex Research Team - 15.05.2025​

Euro Rises Near 1.1200 on Reserve Status​

EUR/USD traded around 1.1200 during Thursday’s Asian session, rebounding ahead of the Eurozone’s Q1 2025 GDP report. The Euro remains supported by its rising role in global reserves, with Capital Economics noting its strongest position in years. U.S. policies under President Trump set this shift in motion, which is seen as weakening the dollar’s appeal as a popular asset. Germany’s increased fiscal spending has also lifted euro demand.

Despite ECB officials signaling more rate cuts, the Euro holds steady against a softer U.S. Dollar, which remains pressured by lingering trade uncertainty. Markets are now focused on U.S. retail sales and PPI data, while speculation grows that the U.S. might allow a weaker Dollar to aid exports.

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

Gold Analysis by zForex Research Team - 15.05.2025​

Risk Appetite Weighs on Gold​

Gold hovers near $3,155, attempting to stabilize after falling more than 2% the previous day. The metal trades below $3,200, pressured by improved risk appetite following U.S.-China tariff reductions and upcoming U.S. data releases, including PPI and Retail Sales.

Fed Chair Powell’s speech is also in focus, as markets seek clues on interest rate policy. While the weaker Dollar has lent gold some support, traders remain cautious ahead of potential rate-cut signals.

Key resistance is seen at $3,235, followed by $3,300 and $3,350. On the downside, support begins at $3,120, then $3,030 and $2,956.

 

[Z Forex]

Daily Analysis by zForex Research Team - 16.05.2025​

Gold and Silver Diverge as Risk Appetite Returns​

The euro advanced near $1.12 as the dollar softened, even as ECB rate cut bets remained firmly priced in. The yen strengthened for a fourth straight day despite a contraction in Japan’s Q1 GDP.

Gold hovered around $3,220, pressured by improved risk appetite. The pound climbed past $1.33 after strong UK GDP figures, while silver dipped to $32.50 amid reports of new U.S. sanctions on Chinese semiconductor firms, weakening its industrial demand outlook.

GBP/USD Analysis by zForex Research Team - 16.05.2025​

Pound Gains on Strong UK GDP​

The British pound climbed to $1.3320 on Friday after strong UK GDP data showed the economy grew 0.7% in Q1 and 1.3% year-over-year, easing pressure on the Bank of England to cut rates aggressively. While a cut is still likely, the solid growth figures suggest urgency has diminished. At the same time, a softer U.S. dollar, driven by speculation that the U.S. may be allowing depreciation to support exports, has supported sterling. However, the UK’s broader outlook remains mixed, with rising unemployment and slowing wage growth signaling uneven momentum.

GBP/USD faces resistance at 1.3350, with additional levels at 1.3450 and 1.3550. Support levels are at 1.3160, 1.3000, and 1.2960.

Silver Analysis by zForex Research Team - 16.05.2025​

Silver Retreats on Semiconductor Tensions​

Silver pulled back to around $32.50 in Friday’s Asian session, giving up part of its recent gains following reports that the U.S. plans to blacklist several Chinese semiconductor firms. Given silver’s integral role in electronics and chip manufacturing, the news weighed on sentiment.

Demand for precious metals has also weakened with easing trade tensions, as the U.S. and China agreed to reduce tariffs, cutting U.S. duties from 145% to 30% and China’s from 125% to 10%. Despite this, silver found support from a weakening U.S. dollar, which followed soft economic data reinforcing expectations for Federal Reserve rate cuts. Powell, however, warned that persistent supply shocks could complicate inflation control moving forward.

Resistance begins at $32.50, with further levels at $33.80 and $34.20. Support is seen at $31.40, followed by $30.20 and $29.80.

 

[Z Forex]

Daily Analysis by zForex Research Team - 19.05.2025​

Dollar Strengthens on Trade Deal Pause
The U.S. dollar gained traction Monday after the U.S. and China agreed to pause retaliatory tariffs for 90 days, prompting a gap lower in EUR/USD to 1.1064. Meanwhile, Moody’s downgraded the U.S. credit rating, citing fiscal concerns, sparking risk aversion and supporting safe-haven assets like gold and the yen.

Gold rebounded to $3,220, while silver hovered near $32.30. The pound climbed toward 1.3300 on weak U.S. data and firm UK GDP. Equities showed mixed sentiment amid policy and geopolitical uncertainty.

EUR/USD Analysis by zForex Research Team - 19.05.2025​

EUR/USD Falls to 1.1064 on Dollar Strength​

The EUR/USD pair started the week with a downside gap, falling to 1.1064 on Monday as the U.S. dollar gained strength. The move followed easing trade tensions between the U.S. and China, after weekend talks resulted in a joint agreement to pause retaliatory tariffs for 90 days. The U.S. committed to cutting additional tariffs on Chinese goods from 145% to 30%, while China agreed to reduce its tariffs on American imports from 125% to 10%.
The key resistance is located at 1.1260 and the first support stands at 1.1040.

USD/JPY Analysis by zForex Research Team - 19.05.2025​

Yen Strengthens as U.S. Rating Cut Sparks Risk Aversion
USD/JPY declined to around 144.80 on Monday, hitting its lowest level in over a week amid renewed selling pressure during Asian trading. The pair extended last week’s pullback from a nearly six-week high, driven by firm expectations that the Bank of Japan may raise interest rates again in 2025. Additionally, Moody’s unexpected downgrade of the U.S. sovereign credit rating to "Aa1" from "Aaa" heightened market caution. The agency cited growing national debt as the key concern, prompting risk aversion and supporting the safe-haven Japanese yen.
The key resistance is at $148.60 meanwhile the major support is located at $139.70.

 

[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.

​