Technical Outlook with Charts | zForex.com

[Z Forex]

Markets Hold Steady as Dollar Stays Firm (04.07.2026)​

Markets traded in a tight range as geopolitical tensions and strong U.S. labor data continued to support the dollar.

EUR/USD held near 1.1520, with limited upside as expectations for Fed rate cuts weakened. The Japanese yen remained close to the 160 level under pressure from rising energy costs, while sterling stayed near multi-month lows amid weak risk sentiment. In commodities, gold and silver stabilized after recent declines, with prices pausing as investors assessed escalating Middle East risks and potential policy responses. Overall, markets remained cautious, with the dollar maintaining its strength.

Euro Holds at $1.152​

The Euro stabilized near $1.152 during quiet trading as the Iran conflict and high oil prices weighed on sentiment. Strong US labor data further dampened expectations for Federal Reserve rate cuts, keeping the currency range-bound against a resilient Dollar.

For EUR/USD, the initial resistance is seen at 1.1590, while the closest support is positioned at 1.1500.

Gold Pauses at $4,650​

Gold stabilized near $4,650 as markets weighed escalating geopolitical threats. Prices paused their decline after President Trump warned of strikes on Iranian infrastructure unless his demands, including the reopening of the Strait of Hormuz, are met.

First resistance is seen at $4720, with initial support near $4580.

Yen Keeps Near 160 Lows​

The Yen hovered near 160 per dollar, its weakest level since 2024. A dominant Dollar, surging energy costs from the Iran conflict, and the looming pressure of President Trump’s deadline continue to weigh heavily on the Japanese currency.

Technically, resistance stands near 159.90, while support is firm at 158.50.

Sterling Near Multi-Month Lows​

The Pound held around $1.32 as geopolitical conflict and surging energy costs dampened risk appetite. Strong US labor data supported the Dollar, further reducing expectations for Federal Reserve easing and keeping Sterling pinned near its recent lows.

From a technical view, support stands near 1.3320, with resistance around 1.3170.

Silver Steadies Near $72.50​

Silver stabilized at $72.50 as markets weighed escalating geopolitical risks. Prices paused following President Trump’s ultimatum to Iran: meet specific demands, including reopening the Strait of Hormuz by Tuesday night, or face strikes on power plants and bridges.

From a technical view, resistance stands near $74.10 while support is located around $71.50.

Brent Crude Oil​

Brent crude advanced above $111 per barrel, staying close to its strongest closing levels since June 2022.

Prices remain supported by rising tensions ahead of Donald Trump’s deadline for Iran to reach an agreement or face intensified attacks on infrastructure, keeping supply risks firmly in focus.

Brent’s resistance is seen at 112.50, with initial support near 107.30.

Nasdaq 100​

The US 100 Tech Index climbed to 24,066, gaining 0.61% from the previous session.

The index continues to show solid momentum over the past month and year, even as projections suggest the possibility of softer levels ahead if borrowing costs remain restrictive.

Nasdaq’s resistance is seen at 24,450, with initial support near 23,850.

 

[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.

 

[Z Forex]

Risk-On Mood Lifts Currencies and Metals (04.15.2026)​

While the United States continues to enforce a naval blockade on Iranian oil exports through the Strait of Hormuz, Tehran is reportedly considering a temporary suspension of shipments to support renewed negotiations.

This shift in tone helped ease defensive demand for the US dollar, leaving the dollar index hovering near 98 on Wednesday, close to six-week lows and nearly wiping out the gains recorded since the conflict began.

The US 10-year Treasury yield held near 4.25% after two consecutive sessions of decline. Hopes for renewed diplomatic progress helped moderate inflation pressure, allowing yields to settle near recent lows.

Japan’s 10-year government bond yield stabilized around 2.41% after easing in the previous session, as uncertainty surrounding the Bank of Japan’s policy path remained in focus. Governor Kazuo Ueda highlighted the need to closely assess the economic consequences of the conflict, noting that higher oil prices could place additional strain on Japan’s growth outlook.

Economic Calendar​

EUR/USD Holds Near 1.1800​

EUR/USD held firm near 1.1800 as hopes for renewed US–Iran negotiations weakened the dollar. Support for the pair stems from improved market sentiment and cooling US inflation, with talks expected to resume shortly. Further gains likely hinge on diplomatic breakthroughs, as ongoing energy and shipping risks in the Strait of Hormuz maintain the dollar's safe-haven appeal.

Meanwhile, ECB President Christine Lagarde noted the bank is prepared for conflict-related risks but cautioned that it is too early to dismiss the war's full economic impact.

For EUR/USD, the initial resistance is seen at 1.1800, while the closest support is positioned at 1.1770.

Gold Climbs Above $4,800​

Gold remained above $4,800 on Wednesday following a 2% gain, as hopes for a US–Iran peace agreement eased fears of an energy-led inflation spike. Reports indicate both nations are preparing for a second round of negotiations after previous attempts stalled.

Although the US maintains its naval blockade of Iranian oil in the Strait of Hormuz, Iran is reportedly considering a temporary suspension of shipments to foster a better environment for the upcoming talks. This potential diplomatic shift continues to anchor the metal's recent strength.

First resistance is seen at $4870, with initial support near $4800.

USD/JPY Stabilizes Below 159.00​

USD/JPY remained below 159.00 as opposing market forces limited movement. While optimism regarding US–Iran diplomacy pressured the dollar, the yen failed to capitalize on this weakness.

Persistent tensions in the Strait of Hormuz continue to threaten energy supplies, creating economic anxiety for Japan due to its heavy reliance on oil imports. This ongoing resource vulnerability effectively offsets safe-haven demand, keeping the yen under pressure.

Initial resistance stands at 160.20, while the first support is located at 158.10.

Pound Climbs Toward $1.36 on Peace Hopes​

The British pound strengthened toward $1.36, hitting its highest point since mid February. This rise follows improved risk appetite fueled by hopes for US–Iran peace talks in Islamabad, even as the US blockade of Iranian ports continues. Falling oil prices below $100 per barrel further supported the currency.

However, persistent inflation risks and the ongoing closure of the Strait of Hormuz have shifted market expectations. Traders now anticipate a more aggressive Bank of England, pricing in nearly two interest rate hikes by the end of the year.

From a technical view, support stands near 1.3600, with resistance around 1.3510.

Silver Surges Past $79​

Silver maintained its position above $79 on Wednesday after a powerful 5% rally, driven by the prospect of a US–Iran settlement. This diplomatic shift has mitigated fears of a massive inflation spike linked to energy costs.

While the US naval blockade persists, Tehran’s potential move to pause oil shipments is seen as a gesture to facilitate upcoming talks in Islamabad. Further aiding the metal’s ascent are retreating oil prices, which have slipped under $100, and a weakening dollar that recently touched a six-week low.

From a technical view, resistance stands near $82.00 while support is located around $77.70.

Brent Crude Oil​

Brent crude traded near $95 per barrel, holding onto recent losses as attention turned to the possibility of renewed negotiations before the current two-week ceasefire expires. Donald Trump indicated that discussions could restart within days in Pakistan following earlier failed talks.

The United States continues its blockade of Iranian oil exports through the Strait of Hormuz, while Iran is reportedly considering a temporary halt in shipments to support diplomatic progress.

Brent’s resistance is seen at 97.50 with initial support near 94.30.

NASDAQ 100​

The US 100 Tech Index traded near 25,872, gaining 458 points or 1.81%. Over the past four weeks, the index has advanced approximately 4.93%, while yearly performance remains strong at 41.71%.

Projections suggest the index could move toward 24,431 by the end of the current quarter and decline further to around 22,484 within the next year.

Nasdaq’s resistance is seen at 26.200, with initial support near 25.250.

USD / CNH​

The offshore yuan traded near 6.81 per dollar, holding close to its strongest level since March 2023 as a softer dollar and improving domestic outlook supported the currency.

China’s economy is projected to grow 4.8% year-on-year in the first quarter of 2026, up from 4.5% in the previous quarter, which had marked the slowest expansion since the post-pandemic reopening.

USD/CNH is testing resistance at 6.8500, with support positioned near 6.8050.

 

[Z Forex]

Optimism Supports Markets (04.16.2026)​

Market behavior pointed to a gradual return of confidence rather than a full risk rally. Participants are responding to improving signals, but sentiment remains closely tied to the next developments in diplomacy and energy supply conditions.

Economic Calendar​

Euro Holds Near Pre-War Highs​

EUR/USD remained steady near pre-war peaks as optimism over a potential US–Iran deal supported the currency. Despite fresh US troop deployments and Christine Lagarde’s warnings regarding high energy costs, the ECB maintained a cautious stance on interest rates, keeping the euro supported amid shifting geopolitical headlines.

For EUR/USD, the initial resistance is seen at 1.1840, while the closest support is positioned at 1.1800.

Gold Still Above $4,800​

Gold continues to be above the $4,800 level, finding support as hopes for prolonged ceasefire negotiations between the US and Iran improved market sentiment. This recovery occurred despite persistent friction in the Strait of Hormuz, which remains closed under continued tensions.

First resistance is seen at $4870, with initial support near $4800.

Yen Recovers to 158.8​

The yen strengthened toward 158.8 against the dollar, reversing earlier losses. This rebound followed signals from Japanese officials regarding active discussions with US authorities and a firm commitment to intervene in the currency markets if volatility necessitates decisive action.

Initial resistance stands at 160.20, while the first support is located at 158.10.

Pound Stabilizes Near $1.36​

Sterling traded near $1.36, holding near multi-month highs as improving sentiment around potential ceasefire extensions supported the currency. While this optimism provided a steady floor for the currency, gains were tempered by a wary market reaction to news of further US military deployments in the region.

From a technical view, support stands near 1.3600, with resistance around 1.3510.

Silver Tops $80 Amid Peace Hopes​

On Thursday, silver climbed past $80, nearing monthly peaks as traders weighed the potential for a lasting US–Iran peace agreement. While such a deal could mitigate inflationary pressures, the metal's price still remains notably below the levels seen prior to the conflict’s onset.

From a technical view, resistance stands near $82.00 while support is located around $77.70.

Brent Crude Oil​

Brent crude stabilized above $94 per barrel after sharp volatility earlier in the week.

Sentiment improved on expectations of a possible ceasefire extension and broader cooperation between the United States and Iran, although uncertainty around shipping flows through the Strait of Hormuz continued to cap confidence.

The resistance is seen at 97.50 with initial support near 94.20.

Nasdaq 100​

The Nasdaq 100 climbed to 26,293, marking a strong daily advance and extending its upward trajectory. Performance remains solid on both a monthly and yearly basis, even as forward projections signal the possibility of softer conditions in the periods ahead.

The resistance is seen at 26.900, with initial support near 26.100.

 

[Z Forex]

Markets End Week on a Positive Note (04.17.2026)​

Markets closed the week with a cautiously positive tone as expectations of continued US–Iran ceasefire discussions supported risk appetite.

Gold Steady Near $4,800​

Gold held firm near $4,800 on Friday, heading for a fourth consecutive weekly rise. While doubts remain regarding reported peace terms, optimism over a potential US–Iran ceasefire has dampened inflation fears and interest rate expectations, providing consistent support for the precious metal.

First resistance is seen at $4840, with initial support near $4760.

Silver Nears $79​

Silver remained stable around $79 on Friday, positioned for its fourth weekly advance. Although deal specifics remain unconfirmed, growing confidence in a potential US–Iran ceasefire has cooled inflation worries and reduced expectations for further central bank rate hikes.

From a technical view, resistance stands near $81.50 while support is located around $77.40.

Brent Crude Oil​

Brent crude eased toward $98 per barrel, trimming part of the previous session’s gains as improving prospects for a US-Iran agreement reduced immediate supply concerns. However, uncertainty over whether Tehran will formally accept the proposed terms continued to limit confidence.

Brent’s resistance is seen at 99.50 with initial support near 95.20.

Euro Remains Near 1.18​

EUR/USD maintained its position near the 1.18 level as growing optimism over potential US–Iran peace progress supported the pair. This upward support was reinforced by market expectations for prolonged ceasefire discussions and upcoming diplomatic sessions, both of which continued to pressure the US dollar.

For EUR/USD, the initial resistance is seen at 1.1830, while the closest support is positioned at 1.1760.

Yen Weakens Past 159​

The yen dropped beyond 159 per dollar as Governor Ueda avoided clear policy guidance. He highlighted the difficult balance between rising inflation threats and potential economic slowdowns, causing the currency to retreat.

Initial resistance stands at 160.20, while the first support is located at 158.10.

Sterling Dips to $1.356​

The British pound eased to $1.356 as markets lowered expectations for a Bank of England rate increase. However, growing optimism regarding a possible resolution to the Middle East conflict helped limit further losses.

From a technical view, support stands near 1.3600, with resistance around 1.3500.

Offshore Yuan (USDCNH)​

The offshore yuan strengthened beyond 6.81 per dollar, reaching multi-year highs following strong economic data from China. Concerns over supply chain disruptions linked to the Iran conflict remained a key risk factor.

USD/CNH is testing resistance at 6.8290, with support positioned near 6.8050.

Nasdaq 100​

The Nasdaq 100 climbed to 26,335, posting a moderate daily gain and extending its upward trend. Performance remains strong on both a monthly and yearly basis, even as forward projections point to the possibility of softer conditions in the periods ahead.

Nasdaq’s resistance is seen at 26.900, with initial support near 26.100.

Bitcoin (BTCUSD)​

Bitcoin slipped to $74,672, extending its recent pullback with a modest daily decline. The cryptocurrency remains under pressure on both a monthly and yearly basis, though forward projections still suggest the potential for recovery over time.

Bitcoin’s first resistance stands at 77,000, while support is at 69,000.

 

[Z Forex]

Brent crude dropped sharply to $89 marking a -10.4% move, after comments from Donald J. Trump suggesting that the Strait of Hormuz is open for full passage, easing immediate supply disruption fears.

The move effectively wiped out the recent geopolitical premium, as traders rushed to price out worst-case supply scenarios tied to Middle East tensions.

Despite the drop, uncertainty hasn’t fully disappeared. Markets are still watching whether this development leads to a sustained de-escalation or turns out to be a short-lived headline-driven reaction.

From a technical perspective, Brent has broken below the pivot zone (92.12) and is now trading closer to lower support levels.
Immediate support is seen at 87.99, followed by 85.50.

On the upside, resistance stands at 92.12.