Downloading...
Download

Zforex

Euro Steady at $1.17 as ECB Holds FireThe euro hovered near $1.17 as traders awaited Thursday’s European Central Bank decision. With rates expected to remain steady following eight consecutive cuts, policymakers tread cautiously amid strength in the euro and lingering U.S. tariff uncertainty. Meanwhile, EU officials are preparing contingency plans in case trade negotiations with President Trump collapse before the August 1 deadline. Resistance for the pair is at 1.1830, while support is at 1.1660.
by ChartMage
US-Japan Deal Supports YenThe yen held firm near 146.5 per dollar, its highest level in two weeks, after President Trump announced a trade agreement with Japan featuring 15% tariffs on exports. Japan, in turn, pledged $550 billion in U.S. investments and increased access for American goods. Prime Minister Ishiba’s lack of details and speculation about his possible resignation add further political uncertainty, especially after the coalition’s upper house defeat. Resistance is at 147.75, with major support at 146.15.
by ChartMage
Gold Nears $3,350 as Tariff Risks PersistGold rose to around $3,350 per ounce on Monday, extending its gains for a second session amid concerns over Trump’s tariff strategy. Commerce Secretary Howard Lutnick said a deal with the EU is likely but confirmed the August 1 tariff deadline. He also suggested smaller countries could face at least a 10% tariff, with some rates reaching 40%. Strong US data last week reduced expectations for an immediate Fed rate cut, capping gold’s gains. Markets now await comments from Fed Chair Powell and Governor Bowman for policy signals. Gold faces resistance at 3380, with additional barriers at 3400 and 3430. Support levels are positioned at 3330, followed by 3295 and extending down to 3250.
EIGHTCAP:XAUUSD
by ChartMage
Pound Pressured by Rising UK Jobless RateGBP/USD started the week steady, trading just above 1.3400 during the Asian session and holding near last week’s two-month low. The US Dollar remains soft below Thursday’s monthly peak, as markets weigh the prospects of a Fed rate cut. Although Fed Governor Waller backed a July cut, most investors expect the Fed to keep rates higher for longer due to Trump’s tariffs impacting consumer prices. The British Pound is under pressure as markets price in a potential Bank of England rate cut in August. UK labor data showed unemployment rising to 4.7%, a four-year high, and annual pay growth slowing to 5%, the weakest since Q2 2022. This limits GBP/USD upside despite persistent inflation. For GBP/USD, resistance is seen at 1.3535, with the next levels at 1.3580 and 1.3630. Support stands at 1.3380, followed by 1.3270 and 1.3140.
by ChartMage
EUR/USD Analysis by zForex Research Team - 07.21.2025​EUR/USD Pulls Back Amid Trade Deal Uncertainty EUR/USD edged down to 1.1620 during Monday’s Asian session, after gains in the previous session, as the US Dollar stayed firm and traders remained cautious ahead of the August 1 tariff deadline. US Commerce Secretary Howard Lutnick said the Trump administration expects to finalize trade deals with major partners in the coming weeks, calling the next two weeks “historic.” He expressed optimism about reaching an agreement with the EU but confirmed that August 1 remains a firm deadline for new tariffs. Resistance levels for EUR/USD are set at 1.1670, followed by 1.1700, and extend up to 1.1750. On the downside, support is found at 1.1580, with additional levels at 1.1540 and 1.1500.
by ChartMage
USD/JPY Analysis by zForex Research Team - 07.21.2025​Yen Recovers After Japan’s Upper House Election The Japanese yen rose to around 148.5 per dollar on Monday, recovering some of last week’s losses after the ruling coalition lost its upper house majority. Markets had mostly priced in the result, limiting the reaction. Prime Minister Ishiba is expected to remain in office, which could ease concerns over political instability. The opposition is likely to push for more spending and tax cuts, which could pressure the yen and lift bond yields. The election outcome comes as Tokyo continues trade talks with Washington. US Commerce Secretary Lutnick confirmed the August 1 tariff deadline but said negotiations will continue. For the yen, resistance stands at 149.30, followed by 151.50, with the next key level at 155.00. Support is located at 147.50, with further levels at 146.15 and 145.30.
by ChartMage
Stronger U.S. Data Pressures Gold PricesGold remained below $3,340 per ounce on Friday and was on track for its first weekly decline in three weeks. The metal faced pressure after stronger U.S. data, including a rebound in retail sales and a sharp drop in jobless claims, reduced the immediate need for Federal Reserve rate cuts. Fed Governor Adriana Kugler backed keeping rates steady for now, pointing to economic resilience, while San Francisco Fed President Mary Daly maintained her outlook for two cuts in 2025. Resistance is at $3,370, while support holds at $3,320.
TVC:GOLD
by ChartMage
Yen Rebounds as Japan Inflation Stays ElevatedThe yen rose to around 148 per dollar on Friday, recovering from the previous day’s decline as markets assessed fresh inflation figures. Japan’s inflation eased slightly to 3.3% in June from 3.5% in May but remained above the Bank of Japan’s 2% target for the 39th straight month. This persistent overshoot has intensified speculation about possible policy tightening by the central bank. Resistance is at 149.30, with major support at 147.50.
by ChartMage
Pound Pressured by Firm Dollar and UK Data ReviewThe British pound held near $1.339 on Friday, its lowest level in eight weeks, as the U.S. dollar strengthened. The dollar reached a three-week high after President Trump confirmed he would not remove Fed Chair Jerome Powell, despite continued criticism of the Fed’s careful stance on rate cuts. In the UK, markets are closely reviewing recent employment and inflation data. While the labor market shows signs of weakness, updated tax records suggest the slowdown may not be as severe as previously thought. Resistance is at 1.3535, while support holds at 1.3380.
by ChartMage
EUR/USD Drops to $1.16 Amid Strong U.S. DataThe euro declined to $1.16 on Thursday, reaching its lowest level in almost a month as the U.S. dollar regained strength. The dollar’s rise followed solid U.S. inflation data and President Trump’s comments suggesting he will keep Fed Chair Jerome Powell in place, reducing expectations for near-term Fed rate cuts. Meanwhile, markets continued to monitor U.S.-EU trade negotiations ahead of the August 1 deadline. Resistance for the pair is at 1.1670, while support is at 1.1580.
by ChartMage
Silver Holds Ground on Fed Inflation WarningsSilver is hovering near $38 during Thursday’s Asian session as markets digest U.S.-EU trade developments and Fed inflation commentary. President Trump said deals with the EU and India are within reach, softening immediate trade fears. Still, the potential August 1 tariffs and inflationary risks continue to support silver’s appeal as a safe-haven asset. Fed officials Williams and Bostic noted that although tariff impacts are modest now, they expect rising inflationary pressure in the coming months. Resistance is at 38.50, while support holds at 37.20.
FOREXCOM:XAGUSD
by ChartMage
Yen Falls on Weak Trade DataThe Japanese yen weakened to around 148 per dollar on Thursday after disappointing trade data fueled concerns of a technical recession. June’s trade surplus came in at JPY 153.1 billion, well below the JPY 353.9 billion forecast and JPY 221.3 billion from a year earlier. Exports dropped 0.5% YoY, the second straight monthly decline, mainly due to the fallout from U.S. tariffs. These signs have heightened fears of another quarterly contraction for Japan. Resistance is at 147.75, with major support at 146.15.
by ChartMage
GBP/USD Climbs as Trump Targets 14 NationsGBP/USD edged higher to around 1.3630 during Tuesday’s Asian session, posting a modest recovery after two straight days of losses. The British Pound found support as the US Dollar weakened in response to heightened market caution following President Donald Trump’s announcement of new tariff rates targeting 14 countries that have not yet finalized trade agreements with the US. The Trump administration introduced a 25% tariff on imports from Japan and South Korea, warning of further escalation if these countries retaliate. Other nations affected include Malaysia, Kazakhstan, and Tunisia, each facing a 25% tariff, while South Africa will face a 30% tariff. Tariffs on Laos and Myanmar will rise to 40%, Indonesia faces 32%, Bangladesh 35%, and both Thailand and Cambodia will see tariffs of 36%. Additionally, Trump signed an executive order delaying the enforcement of these new tariffs until August 1, allowing more time for negotiations, according to Bloomberg. On social media, Trump issued a firm warning that any country aligning with the anti-American stance of the BRICS bloc would face an extra 10% tariff, stating unequivocally: “There will be no exceptions to this policy.” Resistance is at 1.3640, while support holds at 1.3500.
by ChartMage
EUR/USD at 1.1750 as EU Pushes Trade DealEUR/USD trades around 1.1745 in Tuesday’s Asian session, supported by strong Eurozone retail sales for May. The Euro benefits as the EU aims to finalize a preliminary trade deal with the US this week, seeking to maintain a 10% tariff beyond the August 1 deadline while negotiations continue. The proposed agreement would keep the 10% base tariff but exempt sensitive sectors like aviation and alcohol, which helps lift market sentiment toward the Euro. Eurostat data showed retail sales rose 1.8% year-on-year in May, beating expectations of 1.2% but slowing from April’s 2.7%. Monthly sales fell 0.7%, matching forecasts. Resistance for the pair is at 1.1830, while support is at 1.1730.
by ChartMage
Silver Holds Near 13-Year High Amid Tariff UncertaintySilver held above $36.80 Friday, near 13-year highs, as renewed trade tensions supported safe-haven demand. Markets grew cautious after Trump announced plans to send tariff letters, and as the House passed his tax and spending bill, expected to widen the deficit by over $3 trillion. Silver’s gains were capped by a surprisingly stronger June US jobs report, which eased recession fears and reduced near-term Fed rate cut pressure. Resistance is at 37.50, while support holds at 35.40.
FOREXCOM:XAGUSD
by ChartMage
US Jobs Data Supports Fed Dovish SignalsThe EUR/USD stayed in a narrow range around 1.1760 during Friday’s Asian session, with limited movement as US markets were closed for Independence Day. The US dollar gained modestly after Thursday’s NFP data showed 147,000 new jobs in June, beating the expected 110,000. However, private sector job growth slowed, adding only 74,000 jobs in June versus a three-month average of 115,000. This trend supports Fed officials like Vice Chair Bowman, who recently called for rate cuts due to labor market risks. Resistance for the pair is at 1.1830, while support is at 1.1730.
by ChartMage
Japan Seeks US Deal as Tariff Deadline NearsThe yen hovered around 145 per dollar Friday after a nearly 1% drop in the previous session, pressured by trade uncertainties as Tokyo seeks a deal with Washington before next week’s deadline. Trump may announce new tariffs or extend deadlines today, having previously threatened tariffs up to 35% on Japanese goods over low US rice and car imports. The yen also weakened as a stronger US dollar followed a better June jobs report, easing recession fears and reducing near-term Fed cut chances. In Japan, May household spending grew more than forecast, supported by government efforts to increase demand. The key resistance is at $145.35, meanwhile the major support is located at $143.55.
by ChartMage
1
Gold Supported by Trade HopesGold traded around $3,360 per ounce on Thursday, supported by news of a US-Vietnam trade deal and ongoing dollar weakness. The deal, which eases some tariffs on Vietnamese goods, increased hopes for further bilateral agreements. Meanwhile, softer US labor data, ADP figures showed the first payrolls drop in over two years, strengthened the case for Fed easing. Tensions in the Middle East, with Iran halting cooperation with the UN nuclear agency, added a touch of geopolitical risk. Resistance is at $3,395, while support holds at $3,330.
OANDA:XAUUSD
by ChartMage
GBP/USD Slides with Fiscal WorriesGBP/USD edged lower toward 1.3625 in Asian trading, pressured by a sharp selloff in UK government bonds and growing fiscal concerns. Gilts suffered their biggest drop since October 2022 after the government’s decision to cut welfare benefits and mounting doubts over the Chancellor’s political future. Marc Chandler, Chief Market Strategist at Bannockburn Global Forex LLC, noted: “The drop isn’t limited to the British Pound, UK gilts are also under heavy selling. It seems to be a broader crisis of confidence in the Labour government.” Resistance is at 1.3675, while support holds at 1.3570.
by ChartMage
EUR/USD Steady Near 1.1800 as Fed Cut Bets RiseEUR/USD held steady for a second session near 1.1800 in early Thursday trading. The pair could gain momentum as the US dollar weakens on rising expectations of a Fed rate cut after ADP data disappointed. June’s ADP Employment Change showed a surprise 33,000 drop, its first decline in over two years, well below forecasts of 95,000. May’s figure was also revised down to a 29,000 gain. Attention now turns to the upcoming US Nonfarm Payrolls, Average Hourly Earnings, ISM Services PMI, and S&P Global US PMI. Key levels: Resistance at 1.1830; support at 1.1730.
by ChartMage
JPY Steadies, Trade Optimism Counters Dollar WeaknessThe Japanese yen held near 143.7 against the dollar on Thursday, stabilizing after recent losses, supported by improved trade sentiment and a weaker greenback. Japan reiterated its aim for a fair trade deal with the US, though Trump raised pressure by threatening tariffs up to 35% on Japanese imports over low US rice and car sales. Meanwhile, a finalized US-Vietnam deal added to market optimism. The yen also found support as investors awaited key US jobs data, which could increase the odds of a Fed rate cut. Key levels: Resistance at 145.70; support at 143.55.
by ChartMage
Silver Outperforms Gold, Eyes $36Silver climbed back toward $36, bouncing from over two-week lows on falling Treasury yields and a softer dollar. While the Israel-Iran ceasefire remains shaky, Fed Chair Powell said “many paths are possible,” hinting at a flexible rate stance depending on job market data. Strong industrial demand and tight supply continue to support silver, which is up nearly 9% in June, far outpacing gold’s modest gains. Resistance is seen at 37.50, while support holds at 35.40.
FOREXCOM:XAGUSD
by ChartMage