Natural gas price continues to form bearish trading, reaching to the extra negative target near $3.310, to decelerate the attempts to resume the decline in the current trading, which forces it to form weak sideways trading in the current period.
Note that the continuation of forming a strong support at $3.340 level against the current trading, by the unionism of providing negative momentum by the main indicators, these factors will increase the sharpness on the bearish track, to keep waiting for providing negative close below $3.130 level, to confirm targeting new negative stations that might begin at $2.950 and $2.730.
The expected trading range for today is between $3.000 and $3.230
Trend forecast: Bearish
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The US dollar has gapped lower against the Japanese yen during the trading session on Monday, but we have then turned around to show signs of least stability and at this point in time I believe that the 145 yen level continues to be an area of great importance.
The 145 yen level had previously been resistance, but it’s also been support in the past as well.
So a certain amount of market memory would be found here, I would suspect. If we can turn around and rally, I would pay close attention to the 50 day EMA because if we can break above there, then we can really go looking towards the last swing high near the 148.40 yen level.
I do think that the interest rate differential will continue to favor the US dollar. And I think it’s probably only a matter of time before we see traders buying the dollar as a result. The Japanese yen, of course, is a currency that has almost no yield to it. And the Bank of Japan can do almost nothing to tighten monetary policy, at least not enough to really change the overall dynamic.
So, with that being the case, I do prefer buying this pair not shorting it. But this is a market that I think will continue to be noisy because there are so many questions about risk appetite. Yes, I’ve heard the stories of how the debt downgrade in the United States is going to destroy the US dollar and the US economy. But this has already happened twice. And this is a thing that is just simply a matter of a company catching up with the other two. So there really isn’t much going on here. If there’s any effect and it looks like there was it’s probably a one or two day event tops. So, I still favor the upside and I’ll still be a buyer.
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.
Silver price declined as optimism surrounding potential ceasefire talks between Russia and Ukraine dampened demand for safe-haven assets.
President Trump announced that Ukraine and Russia are preparing to enter immediate ceasefire negotiations, possibly excluding US participation.
Silver’s losses on Monday were partially offset by Moody’s decision to downgrade the US sovereign credit rating.
Silver price (XAG/USD) continues its decline for the third consecutive session, trading near $32.20 per troy ounce during Tuesday’s Asian session. The metal’s weakness comes as optimism over a potential ceasefire between Russia and Ukraine reduces demand for safe-haven assets.
Reuters reported that US President Donald Trump stated on Monday that following a call with Russian President Vladimir Putin, Ukraine and Russia are set to begin immediate ceasefire negotiations, potentially without US involvement. This development has pressured precious metals, including Silver, which typically benefit from geopolitical uncertainty.
Despite the downtrend, Silver’s losses on Monday were somewhat cushioned after Moody’s downgraded the US sovereign credit rating from “Aaa” to “Aa1” last Friday, citing rising debt levels and interest burdens significantly higher than those of similarly rated peers. This move follows similar downgrades by Fitch in 2023 and S&P in 2011.
Recent US economic data—including softer Consumer Price Index (CPI) and Producer Price Index (PPI) readings—indicate cooling inflation, bolstering expectations for Federal Reserve rate cuts in 2025. Additionally, disappointing US Retail Sales figures have heightened concerns about sustained economic weakness, which could lend support to non-yielding assets like Silver.
According to the CME FedWatch Tool, markets now anticipate two Fed rate cuts this year, likely beginning in September. Investors will closely monitor upcoming speeches from Federal Reserve (Fed) officials for further insight into the central bank’s policy direction and the broader economic outlook.
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 euro has gone back and forth during the trading session in early trading on Tuesday, as it looks like the 1.13 level will continue to be very resistant as the US dollar had been oversold and now we are seeing higher interest rates in America and that of course makes the US dollar a bit more attractive. With that being said, I think you have a situation where traders continue to face short-term rallies and if we do, in fact, break down from here, I’d be looking at the 1.11 level initially, followed by the 1.0950 level as a potential target. On a break above 1.15, then the euro will go much higher, but right now it doesn’t look like we have that kind of energy.
USD/JPY Technical Analysis
The US dollar has been all over the place against the Japanese yen as we continue to see a lot of volatility near the 145 yen level. Ultimately, I think this is a market that will eventually have to make a bigger decision, but as things stand right now, it is a market that, quite frankly, is going to remain very volatile due to the fact that the Japanese yen, of course, is considered to be a safety currency. And the US dollar, of course, has a lot of noise around it, as far as the trade tariffs and potential geopolitical issues are concerned. With that being said, though, I do prefer the upside and if we can break above the 50 day EMA, I would get long.
· Gold price keeps range play intact below $3,250 early Tuesday.
· The US Dollar draws support from US trade deals optimism but upside appears limited.
· Gold price remains stuck between 21-day SMA and 50-day SMA amid bearish RSI.
Gold price has returned to red early Tuesday, having failed to take out the $3,250 barrier once again. The downtick in Gold price could be linked to a tepid US Dollar (USD) recovery as traders await US trade talks and Fedspeak for a fresh directional impetus.
Gold price looks to US trade talks and Fedspeak
The USD is looking to stabilize following the previous decline, led by the revival of the ‘Sell America’ theme, which triggered a big sell-off in the US assets across the financial markets. Moody’s downgraded the US sovereign credit rating on Friday by one notch from its pristine “Aaa” rating to “Aa1”, withering the ‘Brand USA’.
Investors remained wary about the long-term fiscal picture for the United States (US). “Analysts say Trump’s sweeping tax-cut bill would add $3 trillion to $5 trillion to the nation’s $36.2 trillion in debt over the next decade,” per Reuters.
In response, risk-off flows dominated on Monday and lifted the traditional safe-haven Gold price.
In Tuesday’s trading so far, the Greenback is holding the overnight bounce on renewed optimism over the potential US trade deals with India, South Korea and Japan.
South Korea and the US will meet over a second round of technical discussions on Tuesday in Washington over the latter’s reciprocal tariff measures. The talks will span over three days. Meanwhile, Bloomberg reported that India is discussing the US trade deal structured in three tranches, with an interim agreement likely before July.
Increased hopes of a ceasefire between Russia and Ukraine also act as a headwind to the traditional store of value, Gold. US President Donald Trump spoke with President Vladimir Putin on Monday and said Russia and Ukraine would immediately start negotiations toward a ceasefire, but the Kremlin said reaching an agreement would take time, while Trump indicated he was not ready to join Europe with fresh sanctions to pressure Moscow.
However, the Greenback stalled its recovery, tracking the sharp decline in the Japanese Yen (JPY) after Japan’s Finance Minister Katsunobu Kato hinted at holding FX talks with US Treasury Secretary Scott Bessent this week.
This has helped the bright metal limit its downside. Looking ahead, it remains to be seen if Gold price holds firm to bearish pressures. Speeches from a bunch of Federal Reserve (Fed) policymakers and trade talks will continue to drive the USD’s performance and the Gold price action, in the absence of high-impact US data releases.
Gold price technical analysis: Daily chart
Technically, Gold price remains confined in a range, with the upside capped by the 21-day Simple Moving Average (SMA) at $3,289 while buyers continue to find support at the 50-day SMA at $3,175.
The 14-day Relative Strength Index (RSI) sits beneath the midline, near 47.50, maintaining the downside risks.
So long as the price stays above the throwback support of the 50-day SMA, a brief recovery toward the 21-day SMA remains in the offing.
However, Gold buyers need to take out the immediate resistance at the $3,250 psychological level to march toward the 21-day SMA.
The next topside target is at the falling trendline resistance at $3,386.
On the downside, if sellers manage to crack the 50-day SMA on a daily closing basis, a fresh sell-off could be fuelled toward the $3,100 mark.
The April 10 low of $3,072 would then come to the rescue of buyers.
Gold FAQs
Gold has played a key role in human’s history as it has been widely used as a store of value and medium of exchange. Currently, apart from its shine and usage for jewelry, the precious metal is widely seen as a safe-haven asset, meaning that it is considered a good investment during turbulent times. Gold is also widely seen as a hedge against inflation and against depreciating currencies as it doesn’t rely on any specific issuer or government.
Central banks are the biggest Gold holders. In their aim to support their currencies in turbulent times, central banks tend to diversify their reserves and buy Gold to improve the perceived strength of the economy and the currency. High Gold reserves can be a source of trust for a country’s solvency. Central banks added 1,136 tonnes of Gold worth around $70 billion to their reserves in 2022, according to data from the World Gold Council. This is the highest yearly purchase since records began. Central banks from emerging economies such as China, India and Turkey are quickly increasing their Gold reserves.
Gold has an inverse correlation with the US Dollar and US Treasuries, which are both major reserve and safe-haven assets. When the Dollar depreciates, Gold tends to rise, enabling investors and central banks to diversify their assets in turbulent times. Gold is also inversely correlated with risk assets. A rally in the stock market tends to weaken Gold price, while sell-offs in riskier markets tend to favor the precious metal.
The price can move due to a wide range of factors. Geopolitical instability or fears of a deep recession can quickly make Gold price escalate due to its safe-haven status. As a yield-less asset, Gold tends to rise with lower interest rates, while higher cost of money usually weighs down on the yellow metal. Still, most moves depend on how the US Dollar (USD) behaves as the asset is priced in dollars (XAU/USD). A strong Dollar tends to keep the price of Gold controlled, whereas a weaker Dollar is likely to push Gold prices up.
Platinum price neediness to the negative momentum led to form some of the bullish waves by its stability above $983.00, approaching from the resistance at $1005.00, note that the continuation of providing positive momentum by the main indicators will confirm delaying the negative attack, to increase the chances of the trading rally towards 61.8%Fibonacci correction level, which forms the dividing line between confirming the main trend in the upcoming trading.
Therefore, we expect the continuation of the price’s fluctuation within tight range, to keep waiting for its decline below $983.00, which allows it activate the negative attack and reach towards the negative stations near $966.00 and $950.00.
The expected trading range for today is between $983.00 and $1010.00
Trend forecast: Fluctuated
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Platinum price neediness to the negative momentum led to form some of the bullish waves by its stability above $983.00, approaching from the resistance at $1005.00, note that the continuation of providing positive momentum by the main indicators will confirm delaying the negative attack, to increase the chances of the trading rally towards 61.8%Fibonacci correction level, which forms the dividing line between confirming the main trend in the upcoming trading.
Therefore, we expect the continuation of the price’s fluctuation within tight range, to keep waiting for its decline below $983.00, which allows it activate the negative attack and reach towards the negative stations near $966.00 and $950.00.
The expected trading range for today is between $983.00 and $1010.00
Trend forecast: Fluctuated
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Full coverage of all major forex currency pairs
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Platinum price neediness to the negative momentum led to form some of the bullish waves by its stability above $983.00, approaching from the resistance at $1005.00, note that the continuation of providing positive momentum by the main indicators will confirm delaying the negative attack, to increase the chances of the trading rally towards 61.8%Fibonacci correction level, which forms the dividing line between confirming the main trend in the upcoming trading.
Therefore, we expect the continuation of the price’s fluctuation within tight range, to keep waiting for its decline below $983.00, which allows it activate the negative attack and reach towards the negative stations near $966.00 and $950.00.
The expected trading range for today is between $983.00 and $1010.00
Trend forecast: Fluctuated
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Platinum price neediness to the negative momentum led to form some of the bullish waves by its stability above $983.00, approaching from the resistance at $1005.00, note that the continuation of providing positive momentum by the main indicators will confirm delaying the negative attack, to increase the chances of the trading rally towards 61.8%Fibonacci correction level, which forms the dividing line between confirming the main trend in the upcoming trading.
Therefore, we expect the continuation of the price’s fluctuation within tight range, to keep waiting for its decline below $983.00, which allows it activate the negative attack and reach towards the negative stations near $966.00 and $950.00.
The expected trading range for today is between $983.00 and $1010.00
Trend forecast: Fluctuated
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Britain and the European Union struck “Brexit Reset” pact in an attempt to remove trade bottlenecks and inject fresh momentum into both economies.
Traders appear to approve the deal, with both the euro and the pound near the top of the FX relative strength tables and Germany’s DAX rallying to record highs to start the week.
GBP/USD is on the verge of breaking out from the well-defined bullish flag pattern.
Yesterday, Britain and the European Union struck “Brexit Reset” pact in an attempt to remove trade bottlenecks and inject fresh momentum into both economies. UK Prime Minister Keir Starmer and European Commission President Ursula von der Leyen signed the deal at London’s Lancaster House, framing it as a pragmatic move to boost growth and stabilize markets amid global uncertainty.
Below, we summarize the most relevant aspects of the agreement for traders:
Trade Flows and Export Recovery
By scrapping many routine border checks on animal and plant products, the agreement aims to reverse the roughly 21% drop in UK exports to the EU since 2020. Reduced red tape for British food and drink may cut costs, shorten delivery times, and free up capital that had been tied up in compliance. London projects up to £9 billion in annual gains from faster customs clearance and aligned standards in food, emissions trading, and energy.
Fisheries and Market Sentiment
The politically charged extension of EU fishing access until mid-2038 smooths a potential flashpoint in UK–EU relations. While fishing contributes just 0.4% of GDP, settling the dispute removes a hurdle that might have unsettled markets already jittery about strained post-Brexit ties.
Security Fund as Defense Investment
In a bid to deepen financial cooperation, UK firms will now compete for loans from the EU’s new €150 billion “Security Action for Europe” defense fund. This access to cheap, long-term financing is designed to shore up defense procurement pipelines, support jobs in the aerospace and armaments sectors, and send a strong signal to investors about renewed transatlantic solidarity…at a time that the US, a traditional military powerhouse, appears to be pulling back from its military involvement in the continent.
Capital Markets and Financial Services
Although the deal stops short of rejoining the single market or customs union, it establishes “dynamic alignment” in several regulatory areas. Crucially, financial services firms can expect greater predictability when issuing permits or clearing transactions, potentially easing London’s post-Brexit bid to retain its role as Europe’s premier finance hub.
Mobility, Consumer Confidence and Travel
Reinstating access to EU e-gates for UK passport holders and launching a time-limited “youth experience” work scheme should bolster consumer spending on travel and education. Those measures, while modest, may further lift business confidence and household outlays in border regions.
In summary, the reset deal aims to shore up near-term GDP growth, stabilize investor sentiment, and lay the groundwork for deeper economic integration between the UK and EU without reopening the broader political debates of Brexit. Traders appear to be giving their approval to the deal, with both the and the pound near the top of the FX relative strength tables and Germany’s rallying to record highs to start the week.
British Pound Technical Analysis: GBP/USD Daily Chart
Source: TradingView, StoneX
Focusing on cable, is on the verge of breaking out from the well-defined bullish flag pattern we highlighted on Friday. The exchange rate remains above both its upward-trending 50-day EMA and rising trendline, signaling a healthy medium-term bullish trend as long as the pair remains above 1.3100 or so. If the breakout is maintained (or ideally extended) through yesterday’s close, it would set the stage for a rally to 3+ year highs into at least the mid-1.3400s.
While not infallible, the ongoing breakout in the 14-day RSI indicator serves as a clear leading/confirmatory signal of the bullish breakout in GBP/USD itself.
