The British pound also fell early during the session, but it looks like the 1.34 level is trying to hold the pair up.
We are sitting right around the 200-day EMA that could come into the picture and if we rally from here, we could see a move towards the 50-day EMA. But if we were to break down below the bottom of the trading session up to now on Tuesday, it could send this market down to the 1.33 level.
Ultimately, this is a market that I think continues to be very noisy around the 200-day EMA and with a significant amount of chop, I think if you start to look at this through the prism of short-term charts, I don’t think we’re ready for a big move. We are just sitting right in the middle of what I think is a 200-pip range.
USDCHF rose during recent intraday trading, breaking above the resistance level at 0.7885, which represented a price target in our earlier analysis. The pair is now moving within a short-term corrective bullish trend, supported by a rising trendline, while remaining above its EMA50, which continues to provide positive dynamic support.
However, relative strength indicators are beginning to show negative signals after reaching overbought levels, which may limit the speed of further gains in the near term.
The Euro has fallen to break down below the 200-day EMA on Tuesday as interest rates continue to be a major driver of where we go.
The US 10-year yield is now above 4.67%, which is extraordinarily high compared to recent years and with that being the case it makes sense that the US dollar will strengthen.
The Euro of course is suffering at the hands of the potential for a lack of energy in the European Union if the situation in the Middle East continues to be a problem.
By breaking below the 200-day EMA we have seen a decided negative shift in the EUR/USD market and it looks like we could go down to the 1.15 level, possibly even the 1.14 level.
Watching the Potential Ceiling
The market has previously been bouncing around in a range that is supported at the 1.14 level, so it does make sense that we might try to get down there. The 1.1850 level above is a significant barrier and something that we need to watch very closely as the potential ceiling.
We’re basically just breaking down below the fair value area if you will and as a result I think we’ve got a situation where the US dollar just continues to outwork everything else and that of course will include the Euro.
I’m not looking for a meltdown here, but I do believe that given enough time the Euro will reach to the bottom of this range unless something drastic happens where the Strait of Hormuz suddenly gets opened and even then, we’ve got some rocky road ahead of us.
Christopher Lewis has been trading Forex and has over 20 years experience in financial markets. Chris has been a regular contributor to Daily Forex since the early days of the site. He writes about Forex for several online publications, including FX Empire, Investing.com, and his own site, aptly named The Trader Guy. Chris favours technical analysis methods to identify his trades and likes to trade equity indices and commodities as well as Forex. He favours a longer-term trading style, and his trades often last for days or weeks.
As seen on:Pairs Of Aces Podcast,The Trader Guy, FXEmpire
The price of platinum yesterday succumbed to repeated negative pressures, breaking the stable support level at $1950.00, signaling its readiness to resume the corrective decline by currently settling near the first additional target at $1910.00.
The stochastic indicator is observed to be positioned in the oversold area, which further increases bearish pressure on today’s trading, raising the chances of targeting additional downside levels as the price is drawn toward $1865.00. A break below this level could extend losses toward $1820.00 and $1780.00 respectively.
On the other hand, a break above the stable barrier near $2080.00 would cancel the negative outlook and open the door for a renewed upward move in the upcoming sessions.
The expected trading range for today is between $1865.00 and $1950.00
The price of platinum yesterday succumbed to repeated negative pressures, breaking the stable support level at $1950.00, signaling its readiness to resume the corrective decline by currently settling near the first additional target at $1910.00.
The stochastic indicator is observed to be positioned in the oversold area, which further increases bearish pressure on today’s trading, raising the chances of targeting additional downside levels as the price is drawn toward $1865.00. A break below this level could extend losses toward $1820.00 and $1780.00 respectively.
On the other hand, a break above the stable barrier near $2080.00 would cancel the negative outlook and open the door for a renewed upward move in the upcoming sessions.
The expected trading range for today is between $1865.00 and $1950.00
Silver (XAG/USD) attracts fresh sellers following a modest Asian session uptick to the $75.00 neighborhood and retreats to the lower end of the daily range in the last hour. The white metal currently trades around the $74.00 mark, close to a nearly two-week low set on Tuesday, and seems vulnerable to slide further.
The overnight failure near the 200-period Exponential Moving Average (EMA) on the 4-hour chart and the subsequent break below a nearly one-month-old ascending channel were seen as key triggers for the XAG/USD bears. Moreover, momentum indicators suggest that selling pressures persist even as conditions approach exhaustion.
In fact, the Relative Strength Index (RSI) hovers around 31 in oversold territory, while the Moving Average Convergence Divergence (MACD) remains below zero with a negative histogram. This, in turn, validates the near-term bearish outlook and backs the case for an extension of the XAG/USD’s one-week-old downtrend.
On the topside, initial resistance aligns with the former channel floor at $76.33, with the 200-period EMA next at about $78.25, reinforcing a broader supply zone inside the broken channel. A sustained recovery above these hurdles would be needed to ease the current bearish pressure, while failure to reclaim them leaves XAG/USD vulnerable.
(The technical analysis of this story was written with the help of an AI tool.)
XAG/USD 4-hour chart
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.
The Pound US Dollar (GBP/USD) exchange rate moved lower on Tuesday following the release of weaker-than-expected UK labour market figures.
At the time of writing, GBP/USD was trading at around $1.3396, down roughly 0.4% from the opening levels of Tuesday’s session.
The Pound (GBP) came under pressure on Tuesday as disappointing labour market data brought Sterling’s recent gains to a halt.
According to figures released by the Office for National Statistics (ONS), the UK unemployment rate unexpectedly ticked up from 4.9% to 5% in March, while wage growth slowed from 3.6% to 3.4%.
The easing in pay growth unsettled GBP investors in particular, as it suggested household incomes are struggling to keep pace with inflation amid elevated energy prices linked to the ongoing Middle East crisis.
As a result, markets scaled back expectations for further monetary tightening from the Bank of England (BoE), with some analysts questioning whether policymakers will still move ahead with a rate hike in June.
The US Dollar (USD) strengthened modestly on Tuesday as investors continued to favour safer assets amid lingering geopolitical uncertainty.
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Market caution remained tied to developments in the Middle East, where tensions between the US and Iran continue to cloud investor sentiment.
Late on Monday, US President Donald Trump claimed via social media that he had abandoned plans for military action against Iran following appeals from Gulf nations and because ‘serious negotiations’ were underway.
Despite the comments, markets remained sceptical, with many investors unconvinced that a breakthrough in talks is close given the significant divisions that remain between Washington and Tehran.
Near-Term GBP/USD Forecast: Softer UK Inflation to Pressure Sterling?
Looking ahead, the Pound to US Dollar (GBP/USD) exchange rate may remain on the back foot on Wednesday with the release of the UK’s latest inflation figures.
Economists expect April’s consumer price index to show inflation cooling, despite elevated global energy prices, which could further reduce expectations for a near-term BoE interest rate increase.
Meanwhile, USD investors will be closely watching the publication of the minutes from the Federal Reserve’s latest policy meeting.
If the minutes suggest policymakers are becoming more concerned about inflation risks and open to further tightening, the US Dollar could strengthen further through the midweek session.
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The domestic coffee market this morning, May 20, 2026 recorded a vibrant growth turnaround, cutting off the series of consecutive free-fall days at the beginning of the week.
According to actual surveys in key growing areas of the Central Highlands, bulk purchase prices simultaneously surged by another 800 VND/kg, pushing the general price level of the whole region to an average threshold of 86.2 million VND/kg.
In Dak Nong (old), coffee prices surged to 86,300 VND/kg, continuing to maintain the leading position in purchasing prices.
Dak Lak and Gia Lai localities both recorded good recovery momentum, currently trading stably at 86.100 VND/kg. In Lam Dong province, after hitting a deep bottom, coffee prices also reversed to increase by another 800 VND, climbing to 85.600 VND/kg.
This increase coincided with the breakthrough momentum of the USD/VND exchange rate at Vietcombank when it increased by another 12 VND to 26,121 VND/USD, while the pepper price remained unchanged at the level of 142,000 VND/kg.
World coffee prices
In the international market, after hitting the lowest levels in many months at the beginning of the session, strong bottom-fishing demand helped both futures exchanges close in bright green.
On the New York floor, July Arabica futures price (KCN26) went upstream and increased sharply by 5.95 cents (+2.25%), closing at 270.15 cents/lb.
Sharing the same recovery trend, the London exchange saw the price of Robusta futures in July (RMN26) increase by 39 USD (+1.18%), reaching 3,345 USD/ton.
Coffee price assessment
The price reversal to increase sharply after a 3-week series of continuous sell-offs is mainly due to technical reasons, when indicators touched the oversold zone, which triggered a wave of short buys and settled the decline status of large speculative funds.
Besides technical factors, the support from depleted standard reserves continues to provide solid momentum for the increase. Arabica inventories monitored by the ICE floor have fallen sharply to a 2.75-month low, to only 458,735 bags on Tuesday, while Robusta inventories are also tightly anchored at the lowest level in the past 2 years. In addition, unresolved logistics congestion in the Strait of Hormuz due to prolonged Middle East tensions is still squeezing global supply through pushing freight rates, fuel and especially input fertilizer prices to very high levels. Exports from Brazil also show signs of slowing down as Cecafe’s April report recorded a decrease of 1.3% in green coffee exports compared to the same period.
Although the market has just had an impressive rebound session, experts still recommend maintaining caution and avoiding subjective psychology. Pressure from long-term macroeconomic forecasts is still extremely heavy as StoneX and Marex Group both simultaneously predict that Brazil’s upcoming harvest output will reach a record 75.9 million sacks, leading to a global surplus of up to 10 million sacks for 2026.
Along with the fact that Vietnam’s export growth in the first 4 months of the year jumped 15.8% to 810,000 tons, this recovery momentum may only be short-term before new supply from South America floods the market in June.
USD/JPY rally extends for the seventh straight day, up 0.10% to a 12-day high of 159.25, despite growing fears of Japanese authorities intervening in FX markets. At the time of writing, the pair trades near 159.00.
USD/JPY Price Forecast: Technical outlook
Despite recovering, USD/JPY is poised to consolidate, capped by the line in the sand “intervention zone” around 159.00-160.00, which opens the door for sellers to step in and push the pair lower.
Momentum is bullish as depicted by the Relative Strength Index (RSI) an indication that further upside is seen.
If USD/JPY clears the April 29 daily low-turned-resistance at 159.52, traders can challenge the 160.00 mark. On further strength, the next resistance is the yearly high at 160.72.
Conversely, if USD/JPY slides past the 159.00 mark, it clears the path to the next area of interest, being the 50-day SMA at 158.80, followed by the 20-day SMA at 158.23. If those levels are taken out, the next stop would be 158.00, followed by the 100-day SMA at 157.49.
USD/JPY Price Chart – Daily
USD/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 Australian Dollar.
USD
EUR
GBP
JPY
CAD
AUD
NZD
CHF
USD
0.45%
0.25%
0.13%
0.09%
0.85%
0.66%
0.59%
EUR
-0.45%
-0.19%
-0.30%
-0.36%
0.41%
0.22%
0.14%
GBP
-0.25%
0.19%
-0.11%
-0.16%
0.60%
0.42%
0.34%
JPY
-0.13%
0.30%
0.11%
-0.06%
0.71%
0.55%
0.45%
CAD
-0.09%
0.36%
0.16%
0.06%
0.77%
0.59%
0.51%
AUD
-0.85%
-0.41%
-0.60%
-0.71%
-0.77%
-0.17%
-0.26%
NZD
-0.66%
-0.22%
-0.42%
-0.55%
-0.59%
0.17%
-0.09%
CHF
-0.59%
-0.14%
-0.34%
-0.45%
-0.51%
0.26%
0.09%
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).
Brent crude oil price held steady above $110 on Wednesday as investors predicted a prolonged conflict in the Middle East. It has soared sharply from last month’s low of $86.
Potential for a prolonged conflict
There is a likelihood that the US and Iran will go through a prolonged conflict this year. That’s because President Donald Trump is trapped with no easy way out.
In a statement on Sunday, Trump said that he would attack the country to push it to make a deal. Most analysts expected the attack to happen soon.
But in a separate statement a day earlier, he said that he was asked by countries like Saudi Arabia and the United Arab Emirates to pause the strikes as the two sides were in deep negotiations.
However, in reality, the negotiations were not at an advanced stage. Instead, Trump’s decision mirrored what happened a few weeks earlier when he started his Operation Freedom and Saudi Arabia refused.
These Gulf states believe that restarting the war will hurt them as Iran has become to resilient. In recent reporting, Iran has largely recovered most of its missiles after the last attack.
Trump’s choices in Iran
Therefore, Trump has three main choices. First, he can decide to maintain his blockade in perpetuity, a move that will affect global oil supplies.
Second, he can decide to restart the war as his close allies like Lindsey Graham have suggested. Such a move would lead to more oil supply chain disruptions.
One reason he might do this is the latest primary results in Louisiana and Kentucky. Senator Bob Cassidy lost his election to a Trump-backed candidate.
Similarly, Representative Thomas Massie, who he called the Worst Republican in the House ever, lost to his preferred candidate, Ed Gallrein. Trump may feel that he is in a good political situation and decide to launch the attack.
The other unlikely option is where Trump agrees to a deal with Iran. Such a deal would likely be worse than the one signed between the US and Iran under President Barack Obama. Trump will likely not agree to such a deal as it will require concessions to Iran.
All this is happening as top agencies warn of dwindling global oil inventories. IEA estimates that these inventories are falling by over 4 million barrels each day.
It is also happening ahead of the US driving season, when demand normally drops sharply.
Brent crude oil price technical analysis
Crude oil prices chart | Source: TradingView
The daily chart reveals that the price of Brent crude oil remained above the important resistance level at $110 on Tuesday morning. It remains slightly below the important resistance level at $114.85, where it failed to move above several times since March 19.
The price has remained above all moving averages, a sign that bulls remain in control. It has also jumped above the Supertrend indicator.
A closer look shows that it has formed an inverted head-and-shoulders pattern, a common bullish reversal sign in technical analysis.
Therefore, if this happens, the next key resistance level to watch will be at $120. A move past $120 will push oil prices much higher, potentially to $130.
On the other hand, a drop below the 50-day moving average of $100 will invalidate the bullish outlook and point to more downside.
