Technical Outlook with Charts | zForex

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Markets Stay Cautious Amid Geopolitical Uncertainties (08.14.2026)​

Global markets remained caught between cooling US inflation and persistent Middle East risks. Softer US CPI and core PPI data reduced expectations for a September Fed rate hike to around 35%, supporting gold despite recent profit-taking and helping risk assets.

In Europe, however, inflation expectations remained elevated at 2.4%, above the ECB's 2% target, after July CPI reached 2.9%. Combined with 0.4% Q2 GDP growth, this kept expectations for a 25-basis-point ECB hike in September intact and supported the euro near $1.153.

Geopolitics remained centered on the Strait of Hormuz, where stalled US-Iran negotiations continued to threaten energy supplies and inflation. Brent held near $87, with shipping continuing despite security risks.

Elevated energy and import costs also weighed on the Japanese yen, which traded near 159.4 per dollar. Meanwhile, softer US inflation helped the US 100 Tech Index advance, while Bitcoin remained under pressure near $63,280. The offshore yuan eased toward 6.74, driven mainly by a weaker PBOC fixing rather than geopolitical developments.

Economic Calendar​

Euro Holds Near $1.153​

The euro stabilized around $1.153 on Friday as markets evaluated Middle East geopolitical shifts, uncertain US-Iran agreement signals, and energy-driven inflation pressures. Eurozone inflation expectations held near 2.4%, surpassing the ECB's 2% target after July figures reached 2.9%.

However, underlying economic strength improved the broader outlook, supported by second-quarter GDP expansion of 0.4%. Given persistent price pressures and resilient economic activity, investors maintain expectations for a 25-basis-point European Central Bank rate increase in September.

The first resistance is positioned at 1.1570 while the support starts from 1.1500.

Gold Falls Below $4,350​

Gold slipped below $4,350 per ounce on Friday, continuing its downward slide as investors locked in profits while evaluating Federal Reserve policy signals and Middle East geopolitics. Tame US producer price data supported indications of moderate inflation following a muted CPI report, dropping September rate hike probabilities to roughly 35%.

However, lingering uncertainty surrounding delayed efforts to reopen the Strait of Hormuz maintained market caution regarding potential energy price spikes and renewed geopolitical friction.

First resistance is seen at $4385, with initial support near $4280.

Yen Heads for Weekly Loss​

The Japanese yen hovered near 159.4 per dollar on Friday, heading toward a 1% weekly decline as the absence of additional official intervention emboldened short positions. The currency has now erased roughly half its recent gains following late July's record joint market intervention by Tokyo and Washington.

Wide interest rate differentials, fiscal uncertainties, and elevated energy and import costs continue to exert persistent pressure on the yen.

First resistance is seen at 160.00, with initial support near 158.80.

Sterling Slips Below $1.35​

The British pound pulled back below $1.35 as investors weighed solid UK economic indicators against ongoing Middle East geopolitical friction. Second-quarter UK GDP grew 0.4% quarter-on-quarter, meeting forecasts, backed by a stronger 0.3% rise in June.

However, household consumption growth moderated to 0.2%, signaling persistent consumer financial pressure despite overall economic resilience.

From a technical view, resistance stands near 1.3530, with support around 1.3440.

Silver Drops Below $64​

Silver slid below $64 per ounce on Friday, continuing previous losses as investors secured profits and reevaluated Federal Reserve monetary policy. Cooler US core producer price data for July further confirmed moderating inflation following earlier soft CPI figures.

Financial markets reduced expectations for a 25-basis-point September rate hike to approximately 35%, down from 55% the previous week.

From a technical view, resistance stands near $65.00, while support is located around $63.05.

Brent Crude Oil​

Brent crude stabilized around $87 per barrel on Friday following earlier losses, as traders carefully tracked diplomatic discussions to reopen the Strait of Hormuz. Although negotiations remain stalled, crude shipments continue traversing the Persian Gulf, though several tankers have disabled transponders to navigate lingering maritime security hazards across the region.

Resistance is seen at 88.20, while the nearest support stands at 85.90.

Nasdaq 100​

The US 100 Tech Index traded near 29,985 on Friday, August 14, climbing 342 points or 1.15% from the prior session. The index advanced 1.64% over the past month and remains up 26.45% year-over-year. Trading Economics projects the index will ease to 29,092 by quarter-end and reach 27,281 within twelve months.

Resistance stands at 30,350, while the nearest support is located at 29,720.

Offshore Chinese Yuan (USD/CNH)​

The offshore yuan eased toward 6.74 per dollar on Thursday, surrendering earlier gains after a softer PBOC midpoint fixing weighed on sentiment. The central bank set the fixing rate at 6.7888 per dollar, falling 418 pips short of market forecasts.

While seasonal tailwinds heading into September may offer mild support, further currency strength rests heavily on future PBOC guidance.

Resistance stands at 6.7550 while the nearest support is located at 6.7400.

Bitcoin (BTCUSD)​

Bitcoin traded near $63,280 on Friday, August 14, slipping 126 points or 0.20% from the previous session. The cryptocurrency registered a 2.24% drop over the past four weeks and remains down 46.11% over the last year. Trading Economics projects Bitcoin will reach $66,236 by quarter-end and $73,276 within twelve months.

First resistance is seen at 63,800, with initial support near 62.500.