The EURJPY pair reached %23.6 Fibonacci correction level at 182.00, to form strong support to provide chances for recovering some losses by its rally near 183.70 level.
In general, the bearish scenario will remain valid depending on forming main barrier by 185.45 level against the current trading, which makes us wait for gathering negative momentum, which allows it to renew the negative attempts that might target 182.80 level, to attempt to renew the pressure on 182.00 support, while breaching the main barrier and holding above it will confirm its move to a positive station, to begin targeting several positive stations by its rally towards 186.00 and 186.60.
The expected trading range for today is between 182.80 and 184.30
The US dollar has pulled back slightly against the Canadian dollar, but it still looks like it is in a basing pattern, and it is trying to find a reason to go higher. If we do drop from here, the 1.36 level might be short-term support, and the 1.3550 level most certainly is; it has proven itself multiple times. Pay attention to those US rates. If they turn around, that probably continues the bounce here.
Platinum price managed to settle above the moving average 55, confirming the attempt of activating the bullish trend again, to hit $2075.00 level, approaching the previously suggested initial main target.
Surpassing $2080.00 level, to open the way for resuming the bullish trend, to reach $2120.00, to extend the trading towards the next main target near $2190.00, note that the rise of changing the trend and forming bearish waves depends on breaking the support level at $1865.00.
The expected trading range for today is between $2020.00 and $2120.00
The EURJPY pair reached %23.6 Fibonacci correction level at 182.00, to form strong support to provide chances for recovering some losses by its rally near 183.70 level.
In general, the bearish scenario will remain valid depending on forming main barrier by 185.45 level against the current trading, which makes us wait for gathering negative momentum, which allows it to renew the negative attempts that might target 182.80 level, to attempt to renew the pressure on 182.00 support, while breaching the main barrier and holding above it will confirm its move to a positive station, to begin targeting several positive stations by its rally towards 186.00 and 186.60.
The expected trading range for today is between 182.80 and 184.30
The domestic coffee market this morning, May 7, witnessed an impressive breakthrough session in the Central Highlands provinces.
According to the latest data, the average purchase price of the whole region has increased by 1,000 VND/kg, officially exceeding the threshold of 87,000 VND/kg.
Specifically, in Dak Nong province (old), coffee prices increased the most with 1,100 VND, reaching 87,300 VND/kg.
Dak Lak and Gia Lai provinces both recorded an increase of 1,000 VND, currently trading stably at 87,000 VND/kg.
The Lam Dong area alone listed the price at 86,500 VND/kg after recovering by 1,000 VND compared to yesterday’s session. Meanwhile, pepper prices remained stable at 143,000 VND/kg and the USD/VND exchange rate at Vietcombank decreased slightly by 10 VND to 26,088 VND/USD.
World coffee prices
Developments in the international market last night recorded mixed differentiation between the two futures exchanges.
The London exchange became the main driver for domestic coffee prices when Robusta futures in July surged by another 35 USD (equivalent to 1.04%), reaching 3,413 USD/ton.
Conversely, the New York exchange sank into red when Arabica prices fell sharply by 5.90 cents (equivalent to 2.04%), falling to 283.85 cents/lb. Arabica’s decline stems from optimistic signals about the possibility of ending the US-Iran conflict, which opens up expectations that the Strait of Hormuz will soon be cleared again, helping to relieve global logistics pressure.
Coffee price assessment
Despite cooling geopolitical news, factors tightening supply in reality are still a solid pillar for coffee prices. Robusta inventories on the ICE exchange fell to a record low of 16.25 months (only 3,755 lots), while Arabica inventories also hit a 2.5-month low.
In addition, Brazil’s Real continued to maintain its strength at its highest level in 2.25 years against the USD, causing Brazilian farmers to limit export sales due to unfavorable exchange rate differences. These factors compensated for the pressure from the Vietnam’s export report in the first 4 months of the year increasing sharply by 15.8% (reaching 810,000 tons) and the forecast of a global surplus of 10 million sacks of StoneX.
The market is currently in an extremely sensitive phase when “good news” about geopolitics is “bad news” for prices due to reduced insurance and transportation costs. However, with stockpiles on the London exchange running out, Robusta’s upward momentum still has considerable room in the short term.
The GBP/USD pair trades 0.18% higher around 1.3620 during the European trading session on Thursday. The Cable reflects strength as the US Dollar (USD) faces selling pressure amid the optimism that the United States (US) and Iran will reach a peace deal soon.
US Dollar Price Today
The table below shows the percentage change of US Dollar (USD) against listed major currencies today. US Dollar was the weakest against the New Zealand Dollar.
USD
EUR
GBP
JPY
CAD
AUD
NZD
CHF
USD
-0.16%
-0.17%
-0.02%
-0.03%
-0.28%
-0.45%
-0.11%
EUR
0.16%
-0.02%
0.17%
0.14%
-0.12%
-0.29%
0.04%
GBP
0.17%
0.02%
0.17%
0.14%
-0.11%
-0.28%
0.06%
JPY
0.02%
-0.17%
-0.17%
-0.03%
-0.27%
-0.49%
-0.09%
CAD
0.03%
-0.14%
-0.14%
0.03%
-0.24%
-0.42%
-0.08%
AUD
0.28%
0.12%
0.11%
0.27%
0.24%
-0.17%
0.16%
NZD
0.45%
0.29%
0.28%
0.49%
0.42%
0.17%
0.34%
CHF
0.11%
-0.04%
-0.06%
0.09%
0.08%
-0.16%
-0.34%
The heat map shows percentage changes of major currencies against each other. The base currency is picked from the left column, while the quote currency is picked from the top row. For example, if you pick the US Dollar from the left column and move along the horizontal line to the Japanese Yen, the percentage change displayed in the box will represent USD (base)/JPY (quote).
As of writing, the US Dollar Index (DXY), which tracks the Greenback’s value against six major currencies, is down 0.1% to near 97.90.
Market sentiment is risk-on, following reports from Al-Hadath, sister channel to Al Arabiya, that intense communications between the US and Iran are ongoing to gradually reopen the Strait of Hormuz, a vital passage to almost 20% of global energy supply. S&P 500 futures are marginally higher at around 7,370, indicating a higher appetite for riskier assets.
Going forward, the major trigger for Cable will be the US Nonfarm Payrolls (NFP) data for April, which will be released on Friday. The data is expected to influence market expectations for the Federal Reserve’s (Fed) monetary policy outlook. The CME FedWatch tool shows that the central bank will hold interest rates at their current levels by the year-end.
GBP/USD technical analysis
GBP/USD trades higher at around 1.3620 as of writing. The pair retains a constructive bullish bias as spot holds above the 20-period exponential moving average (EMA) at 1.3518. The pair is also trading just over the 61.8% retracement at 1.3600, turning that level into immediate underlying demand, while the Relative Strength Index (14) at 61.4 sits in positive territory, suggesting sustained upward momentum rather than overbought excess.
On the downside, initial support is seen at the recent pivot area around 1.3600, with the 20-period EMA and the 50% Fibonacci retracement clustered near 1.3520, reinforcing a deeper floor ahead of 1.3434 and 1.3331. On the topside, further gains face first resistance at the 78.6% Fibonacci retracement near 1.3719, with a break there exposing the cycle high region at 1.3870 as the next resistance hurdle.
(The technical analysis of this story was written with the help of an AI tool.)
(This story was corrected at 11:47 GMT to say in the third paragraph that S&P 500 futures are marginally higher at around 7,370, and not 7,7370.)
Pound Sterling FAQs
The Pound Sterling (GBP) is the oldest currency in the world (886 AD) and the official currency of the United Kingdom. It is the fourth most traded unit for foreign exchange (FX) in the world, accounting for 12% of all transactions, averaging $630 billion a day, according to 2022 data.
Its key trading pairs are GBP/USD, also known as ‘Cable’, which accounts for 11% of FX, GBP/JPY, or the ‘Dragon’ as it is known by traders (3%), and EUR/GBP (2%). The Pound Sterling is issued by the Bank of England (BoE).
The single most important factor influencing the value of the Pound Sterling is monetary policy decided by the Bank of England. The BoE bases its decisions on whether it has achieved its primary goal of “price stability” – a steady inflation rate of around 2%. Its primary tool for achieving this is the adjustment of interest rates.
When inflation is too high, the BoE will try to rein it in by raising interest rates, making it more expensive for people and businesses to access credit. This is generally positive for GBP, as higher interest rates make the UK a more attractive place for global investors to park their money.
When inflation falls too low it is a sign economic growth is slowing. In this scenario, the BoE will consider lowering interest rates to cheapen credit so businesses will borrow more to invest in growth-generating projects.
Data releases gauge the health of the economy and can impact the value of the Pound Sterling. Indicators such as GDP, Manufacturing and Services PMIs, and employment can all influence the direction of the GBP.
A strong economy is good for Sterling. Not only does it attract more foreign investment but it may encourage the BoE to put up interest rates, which will directly strengthen GBP. Otherwise, if economic data is weak, the Pound Sterling is likely to fall.
Another significant data release for the Pound Sterling is the Trade Balance. This indicator measures the difference between what a country earns from its exports and what it spends on imports over a given period.
If a country produces highly sought-after exports, its currency will benefit purely from the extra demand created from foreign buyers seeking to purchase these goods. Therefore, a positive net Trade Balance strengthens a currency and vice versa for a negative balance.
2026.05.07 2026.05.07 Short-Term Analysis for Oil, Gold, and EURUSD for 07.05.2026
Alex Rodionovhttps://www.litefinance.org/blog/authors/alex-rodionov/
Welcome, my fellow traders! I have prepared a price forecast for the USCrude, XAUUSD, and EURUSD using a combination of the margin zones method and technical analysis. Based on the market analysis, I suggest entry signals for intraday traders.
Gold is trading in a bullish correction within the short-term downtrend.
XAUUSD: Gold has reached the resistance B of 4,734–4,713 during a correction.
EURUSD: The euro has bounced off the support B of 1.1687–1.1670.
Oil Price Forecast for Today: USCrude Analysis
Oil’s short-term trend turned bearish yesterday. The price broke below the key support of 99.24–98.43 and reached the lower Target Zone of 91.15–89.53. After that, major market participants started closing their short trades, causing an upward correction.
During the correction, the oil price tested the resistance A of 92.82–92.28, but bears managed to keep the asset below this zone. Today, the price may continue to fall. Consequently, consider short trades with the first target at 89.85 and the second one around 86.89.
USCrude Trading Ideas for Today:
Sell near resistance A of 92.82–92.28. TakeProfit: 89.85, 86.89. StopLoss: 94.70.
Gold Forecast for Today: XAUUSD Analysis
Gold is trading in a correction within a short-term downtrend. Yesterday, the price pierced resistance A at 4,656–4,642 and reached resistance B at 4,734–4,713, the upper boundary of the trend. Consider short trades near this zone, with the first target at 4,617 and the second one at 4,500.
If the gold price breaks above resistance B, the downtrend will reverse. In this case, consider long trades, with the target in the upper Target Zone of 4,968–4,925.
XAUUSD Trading Ideas for Today:
Sell near resistance B of 4,734–4,713. TakeProfit: 4,617, 4,500. StopLoss: 4,788.
Euro/Dollar Forecast for Today: EURUSD Analysis
The euro extended its short-term uptrend yesterday. Bulls managed to hold the support B of 1.1687–1.1670, and the price reached the first upside target of 1.1760. If the price breaks above this level, the next upside target will be at 1.1849. Should the asset rise even higher, it may climb to the Target Zone 2 of 1.1972–1.1950.
If the euro price settles below the support B, the trend will shift to a downtrend. In this case, consider short trades, with the target in the lower Target Zone of 1.1525–1.1492.
EURUSD Trading Ideas for Today:
Watch the market.
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Price chart of XAUUSD in real time mode
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We have seen some big moves across financial markets today with oil prices sliding more than 10% amid optimism about a deal between the US and Iran to end the blockade in the Strait of Hormuz, before prices bounced back as fresh doubts emerged. With oil plunging earlier, stagflation worries receded sharply, and investors piled back into European stocks, metals and foreign currencies, while selling the US dollar. The USD/JPY was apparently hit again by further dollar selling from Japan overnight, causing it to drop to near the 155.00 handle. The near-term USD/JPY forecast remains tilted to downside amid ongoing FX intervention and the dollar selling, but a lot now depends on what oil prices do from here. Will the two sides agree to any deal?
Risk appetite improves as crude oil takes a plunge
Risk appetite has picked up sharply today, with equities pushing higher as oil prices slide. The move follows a string of encouraging headlines on the US-Iran front. Late yesterday, US Secretary of State Marco Rubio confirmed that “Operation Epic Fury” had concluded, with its objectives met. Shortly after, Donald Trump announced a pause to “Project Freedom”, signalling room for negotiations with Iran. This was a step markets quickly interpreted as progress towards a deal, and so oil sold off after futures re-opened. Since then, prices haven’t looked back much, with Brent sliding now to below $100.
Source: TradingView.com
Momentum built further on reports from Axios suggesting both sides are close to agreeing a one-page framework to end hostilities, with a response from Tehran expected within 48 hours. Unsurprisingly, that combination has fuelled optimism across risk assets. Market’s reaction suggests that the situation could soon be resolved. Let’s hope that is the case and we don’t see any fresh escalations. But for now, Brent oil was still holding above its mid-April lows, where the latest rally began when talks broke down.
Trump’s fresh ultimatum halts oil-slide
After the big drop in oil prices, Trump has just posted the following:
“Assuming Iran agrees to give what has been agreed to, which is, perhaps, a big assumption, the already legendary Epic Fury will be at an end, and the highly effective Blockade will allow the Hormuz Strait to be OPEN TO ALL, including Iran. If they don’t agree, the bombing starts, and it will be, sadly, at a much higher level and intensity than it was before. Thank you for your attention to this matter!”
Markets have reacted slightly negatively to this latest post, but essentially it doesn’t change anything. The key sticking point is whether Iran would agree to remove its highly enriched uranium from the country. That’s what the US president is presumably referring to. This is something Iran has rejected until now.
USD/JPY forecast: Attention to turn to US data
In recent days, the US dollar was regaining momentum as talks between the two sides had stalled and oil prices went high. On top of this, the Federal Reserve appeared to be gradually stepping back from its easing bias, and this was also supported by resilient US data and company earnings.
However, today, that trend has changed. While oil still remains elevated compared to pre-war levels, if the Strait of Hormuz fully reopens prices could fall even more. If so, that could further weigh on the dollar in the near term as rate cut expectations creep back higher. That should also allow attention to shift back to fundamentals.
It is worth pointing out that any sustained rebound in economic activity following any resolution could just as easily keep inflation sticky, preventing the dollar from sliding too much in the longer run. For now, though, markets are leaning into the positive narrative, which is benefiting the EM currencies the most. The likes of the euro and yen, currencies that had come under pressure because of the oil shock, were also benefitting largely from this slide in oil prices.
Meanwhile, today’s US ADP employment report (expected at +120k) could also prove influential. A downside surprise would likely reinforce the softer dollar narrative.
For now, the tone remains tilted towards risk-on and a softer greenback, keeping the short-term USD/JPY forecast tiled to the downside.
Technical USD/JPY forecast and key levels to watch
Additional pressure on the dollar may have come from renewed Japanese activity in FX markets, as we saw renewed sudden drops in the USD/JPY overnight.
Source: TradingView.com
Technically, the pair has now reached and reacted from the key short-term support around 155.00-155.50 area. This is where recent lows meet the support trend of the bullish channel. A break below here could pave the way for fresh selling in the days and weeks to come, data and oil permitting. Key resistance is now at 157.50 to 158.00 area. Lots of other short-term levels in between.
GBP/JPY retreats over 0.55% on Wednesday as the Japanese Yen strengthened in the aftermath of last week’s intervention in the FX markets by Japanese authorities. At the time of writing, the cross-pair trades at 212.60 after reaching a daily peak of 214.23.
GBP/JPY Price Forecast: Technical Outlook
The GBP/JPY is poised to consolidate after clearing key support levels like the 50-day Simple Moving Average (SMA) at 211.99, followed by the 50-day SMA at 212.85.
Momentum favours further upside, as depicted in the daily chart, but the Relative Strength Index (RSI) hints that further downside is seen.
If GBP/JPY drops below the 100-day SMA of 212.04, the cross would resume its downtrend sharply, with the next support seen at 210.46, the April 30 swing low. A breach of the latter will expose the March 31 swing low of 209.63, followed by the March 5 low of 209.18.
Conversely, the first resistance for GBP/JPY is the 50-day SMA at 212.91. A decisive break will expose the 213.00 figure, followed by the 214.00, with buyers eyeing the 20-day SMA at 214.63.
GBP/JPY Price Chart – Daily
GBP/JPY daily chart
Japanese Yen Price Today
The table below shows the percentage change of Japanese Yen (JPY) against listed major currencies today. Japanese Yen was the strongest against the Canadian Dollar.
USD
EUR
GBP
JPY
CAD
AUD
NZD
CHF
USD
-0.46%
-0.40%
-1.00%
0.08%
-0.75%
-1.24%
-0.51%
EUR
0.46%
0.05%
-0.51%
0.55%
-0.29%
-0.88%
-0.07%
GBP
0.40%
-0.05%
-0.59%
0.50%
-0.35%
-0.92%
-0.09%
JPY
1.00%
0.51%
0.59%
1.06%
0.20%
-0.18%
0.41%
CAD
-0.08%
-0.55%
-0.50%
-1.06%
-0.85%
-1.26%
-0.57%
AUD
0.75%
0.29%
0.35%
-0.20%
0.85%
-0.56%
0.26%
NZD
1.24%
0.88%
0.92%
0.18%
1.26%
0.56%
0.78%
CHF
0.51%
0.07%
0.09%
-0.41%
0.57%
-0.26%
-0.78%
The heat map shows percentage changes of major currencies against each other. The base currency is picked from the left column, while the quote currency is picked from the top row. For example, if you pick the Japanese Yen from the left column and move along the horizontal line to the US Dollar, the percentage change displayed in the box will represent JPY (base)/USD (quote).
Silver (XAG/USD) gains traction on Wednesday as renewed optimism surrounding a potential US-Iran peace deal triggers a sharp decline in the US Dollar (USD) and Oil prices. At the time of writing, XAG/USD is trading around 77, up over 5.50% on the day.
The latest leg higher comes after Axios reported that Washington and Tehran are moving closer to a potential agreement aimed at ending the war and establishing a framework for detailed nuclear negotiations.
The sharp decline in crude Oil helped ease immediate inflation concerns, pushing US Treasury yields lower and providing additional support to the non-yielding metal. Traders also shifted back toward pricing in the possibility of Federal Reserve (Fed) rate cuts by year-end.
Despite the renewed optimism, uncertainty over whether the US and Iran can reach a final agreement continues to keep markets on edge, limiting further upside in Silver. The technical outlook also points to a possible consolidation phase following the intraday surge.
Technical Analysis:
In the daily chart, XAG/USD remains capped in the near term, as spot holds below the 50-day Simple Moving Average (SMA) and the 100-day SMA, keeping recovery attempts vulnerable while those barriers stand overhead.
Momentum has improved, with the Relative Strength Index near 53 and the Moving Average Convergence Divergence (MACD) fractionally positive, but the subdued Average Directional Index around 12 suggests a weak underlying trend, hinting at consolidation rather than a sustained breakout.
On the topside, initial resistance is aligned at the 50-day SMA at $77, with a stronger hurdle emerging at the 100-day SMA near $80, where a daily close above would be needed to ease the current capped tone.
On the downside, initial support is seen in the $70.00-$71.00 zone, while the 200-day SMA at $63 offers the next significant structural support, and while it sits well below current prices, it defines the broader bullish floor that would need to give way to signal a deeper bearish reversal.
(The technical analysis of this story was written with the help of an AI tool.)
Silver FAQs
Silver is a precious metal highly traded among investors. It has been historically used as a store of value and a medium of exchange. Although less popular than Gold, traders may turn to Silver to diversify their investment portfolio, for its intrinsic value or as a potential hedge during high-inflation periods. Investors can buy physical Silver, in coins or in bars, or trade it through vehicles such as Exchange Traded Funds, which track its price on international markets.
Silver prices can move due to a wide range of factors. Geopolitical instability or fears of a deep recession can make Silver price escalate due to its safe-haven status, although to a lesser extent than Gold’s. As a yieldless asset, Silver tends to rise with lower interest rates. Its moves also depend on how the US Dollar (USD) behaves as the asset is priced in dollars (XAG/USD). A strong Dollar tends to keep the price of Silver at bay, whereas a weaker Dollar is likely to propel prices up. Other factors such as investment demand, mining supply – Silver is much more abundant than Gold – and recycling rates can also affect prices.
Silver is widely used in industry, particularly in sectors such as electronics or solar energy, as it has one of the highest electric conductivity of all metals – more than Copper and Gold. A surge in demand can increase prices, while a decline tends to lower them. Dynamics in the US, Chinese and Indian economies can also contribute to price swings: for the US and particularly China, their big industrial sectors use Silver in various processes; in India, consumers’ demand for the precious metal for jewellery also plays a key role in setting prices.
Silver prices tend to follow Gold’s moves. When Gold prices rise, Silver typically follows suit, as their status as safe-haven assets is similar. The Gold/Silver ratio, which shows the number of ounces of Silver needed to equal the value of one ounce of Gold, may help to determine the relative valuation between both metals. Some investors may consider a high ratio as an indicator that Silver is undervalued, or Gold is overvalued. On the contrary, a low ratio might suggest that Gold is undervalued relative to Silver.
