The EURJPY pair renewed the positive attempts since yesterday, due to the continuation of providing positive momentum by the main indicators by its rally above the initial resistance at 184.80, to test the barrier at 185.45 to bounce directly to settle near 184.90.
The price might be forced to provide mixed trading by its stability below 184.45, and there is a chance for forming bearish waves to target 184.20 and 183.70 level, while its success to surpass the barrier at 185.45 will open the way for forming strong bullish waves, to expect reaching 186.00 initially, reaching 186.65.
The expected trading range for today is between 184.40 and 185.45
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The EURJPY pair renewed the positive attempts since yesterday, due to the continuation of providing positive momentum by the main indicators by its rally above the initial resistance at 184.80, to test the barrier at 185.45 to bounce directly to settle near 184.90.
The price might be forced to provide mixed trading by its stability below 184.45, and there is a chance for forming bearish waves to target 184.20 and 183.70 level, while its success to surpass the barrier at 185.45 will open the way for forming strong bullish waves, to expect reaching 186.00 initially, reaching 186.65.
The expected trading range for today is between 184.40 and 185.45
Silver (XAG/USD) trades with a positive bias on Wednesday, supported by a broadly weaker US Dollar following a two-week ceasefire agreement between the United States and Iran. At the time of writing, XAG/USD is trading around $74.50, up nearly 2% on the day after hitting an intraday high of $77.65.
Despite the softer Greenback, the metal struggles to extend gains as traders continue to assess evolving geopolitical risks. While Crude prices retreated sharply after the ceasefire news, the decline has stalled amid uncertainty around the durability of the agreement.
Reports of airstrikes across the Middle East, including Israeli strikes on Lebanon and attacks reported in Saudi Arabia, the UAE, Kuwait, Qatar, and Bahrain, highlight persistent tensions. Iranian officials have also warned that Tehran could withdraw from the ceasefire agreement if attacks on Lebanon continue.
This keeps markets on edge over whether a full resolution can be reached and whether Oil prices can see a meaningful and sustained decline. Until then, expectations for tighter monetary policy are likely to remain in place, limiting further upside in non-yielding assets like Silver.
From a technical perspective, the 4-hour chart shows XAG/USD trading within a bearish flag pattern. The near-term bias is mixed as prices stabilize between key moving averages.
The 100-period Simple Moving Average (SMA) at $72.63, which closely aligns with the lower boundary of the flag, is acting as immediate support and cushioning the downside. A break below this level could confirm a bearish continuation, exposing the next support at Tuesday’s low near $68.28, followed by the March swing low around $61.00.
On the upside, the 200-period SMA near $79.00 coincides with the upper boundary of the flag and continues to cap gains. A sustained break above this zone would negate the bearish structure and could trigger a recovery toward the mid-$80s, with scope to extend toward the $90.00 region.
Momentum indicators remain mildly constructive. The Relative Strength Index (RSI) is hovering in the mid-50s, while the Moving Average Convergence Divergence (MACD) remains in positive territory, suggesting steady buying interest despite the consolidation within the broader uptrend.
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.
EUR/JPY edges lower after two days of gains, trading around 185.00 during the European hours on Wednesday. The technical analysis of the daily chart suggests the currency cross is moving upwards within the ascending channel pattern, indicating bullish bias.
The near-term bias stays mildly bullish as the EUR/JPY cross holds comfortably above the 50-day Exponential Moving Average (EMA), while the nine-day EMA rises above the medium-term average, reinforcing a short-term uptrend within an established broader advance.
Momentum backs this tone, with the Relative Strength Index (RSI) around 59, holding above the 50 line and confirming persistent buying pressure rather than overbought excess.
The EUR/JPY cross may retest the immediate resistance at the upper ascending channel boundary around 185.70. Further advances above the channel would reinforce the bullish bias and lead the EUR/JPY cross to explore the region around the all-time high of 186.88, reached on January 23.
On the downside, the initial support lies at the nine-day EMA of 184.33. A break below the short-term average would weaken the bullish bias and lead the EUR/JPY cross to test the 50-day EMA at 183.58, followed by the lower boundary of the ascending channel around 183.00.
EUR/JPY: Daily Chart
(The technical analysis of this story was written with the help of an AI tool.)
Euro Price Today
The table below shows the percentage change of Euro (EUR) against listed major currencies today. Euro was the weakest against the New Zealand Dollar.
USD
EUR
GBP
JPY
CAD
AUD
NZD
CHF
USD
-0.78%
-1.06%
-0.82%
-0.14%
-1.05%
-1.52%
-1.15%
EUR
0.78%
-0.30%
-0.04%
0.63%
-0.28%
-0.78%
-0.39%
GBP
1.06%
0.30%
0.26%
0.93%
0.04%
-0.46%
-0.09%
JPY
0.82%
0.04%
-0.26%
0.68%
-0.20%
-0.69%
-0.32%
CAD
0.14%
-0.63%
-0.93%
-0.68%
-0.88%
-1.35%
-1.01%
AUD
1.05%
0.28%
-0.04%
0.20%
0.88%
-0.49%
-0.13%
NZD
1.52%
0.78%
0.46%
0.69%
1.35%
0.49%
0.36%
CHF
1.15%
0.39%
0.09%
0.32%
1.01%
0.13%
-0.36%
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 Euro from the left column and move along the horizontal line to the US Dollar, the percentage change displayed in the box will represent EUR (base)/USD (quote).
The coffee market this morning, April 8th, recorded a simultaneous decrease of 4,000 VND in all key purchasing areas in the Central Highlands region.
The average price across the region is currently only anchored at the threshold of 85. 200 VND/kg after the sell-off wave on international exchanges spread widely.
Specifically, in Dak Nong province (old), the purchase price retreated to 85,300 VND/kg, while in Dak Lak and Gia Lai it stood at the same mark of 85,200 VND/kg.
Lam Dong province currently has the lowest price in the region when trading around the threshold of 84,700 VND/kg.
World coffee prices
On international exchanges, coffee prices also simultaneously decreased sharply due to the impact of the latest supply and demand forecasts.
The London exchange witnessed the price of Robusta for May 2026 delivery fall 133 USD, closing at 3,315 USD/ton, this is the lowest level for near futures in the past 8 months.
On the New York exchange, Arabica prices also fell 11.95 cents to 286.10 cents/lb. Investors are stepping up position liquidation as they face information that the global coffee surplus in 2026 could reach 10 million bags according to StoneX’s forecast. This is considered the largest surplus in the last 6 years, putting heavy pressure on market sentiment.
Market outlook
The main reason for this price reduction comes from the prospect of abundant supply from major producing countries. Marex Group forecasts Brazil’s output in the next crop year to reach a record 75.9 million bags, an increase of more than 15% compared to the previous year. At the same time, Vietnam’s Q1 export figures increased by 14% to 585,000 tons, showing that goods are circulating quite strongly in the international market. Although factors such as the closure of the Strait of Hormuz or low rainfall in Brazil are still supporting transportation costs and crop risks, that is not enough to stop the decline as record surplus reports continuously appear.
It is forecasted that in the coming time, domestic coffee prices will continue to face a major challenge around the threshold of 84,000 – 85,000 VND/kg.
The Pound to Euro exchange rate (GBP/EUR) climbed above 1.1550 to one-month highs as shifting Bank of England rate expectations and position adjustments supported Sterling despite heightened geopolitical tensions.
Rising energy prices following escalating conflict in the Middle East have complicated central-bank policy expectations, prompting markets to reconsider the timing of Bank of England rate cuts while the Euro faces pressure from Europe’s dependence on energy imports.
GBP/EUR Forecasts: BoE rethink?
After initial vulnerability, UBS expects that the Pound to Euro (GBP/EUR) exchange rate will strengthen to 1.1630 by the first quarter of 2027.
MUFG, in contrast, still forecasts that GBP/EUR will slide to 1.11 by the end of 2026.
Middle East developments dominated during the week with a surge in energy prices as the US and Israel attacked Iran aggressively while Iran retaliated with missile strikes across the region.
GBP/EUR was broadly resilient and a break above 1.1500 triggered a 1-month high above 1.1550. There was clear evidence of position adjustment with a covering of short Pound positions while the Euro was hit by a liquidation of long positions.
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A shift in Bank of England expectations also underpinned the Pound with expectations that the Bank of England would decide not to cut rates this month due to elevated uncertainty.
Nomura has been notably bearish on the Pound, but has tempered its short-term view; “The risk now is that the market finds it relatively easy to price out BoE rate cuts, but the hurdle to pricing in meaningful rate hikes in the euro area is higher. Indeed, the two-year swap spread has moved from just under 120bp in GBP’s favour to nearly 130bp in the last few days.”
It noted; “This has overwhelmed any potential relative “safe haven” demand for EUR relative to GBP, which is often seen when global equities are under pressure.”
The bank added; “if energy prices stay elevated. In the short term, EUR may face slightly more pressure than GBP from these forces.”
UBS has a positive medium-term Pound outlook; “We expect the pound to recover in the second half of this year and into 2027—especially given its current undervaluation—as the political landscape becomes clearer after the May elections and the BoE nears the end of its easing cycle.”
Natixis sees the risk of near-term Pound selling; “In the short term, EUR/GBP could move back above 0.88 (GBP/EUR below 1.1360), especially ahead of the local elections on May 7, which risk adding another layer of political uncertainty.”
UBS does have reservations over the near-term Pound outlook; “With local and regional elections scheduled for May and monetary easing likely to continue through to June, we don’t expect sterling to outperform in the near term. Meanwhile, Europe’s recovery is gaining momentum, with increased fiscal spending in defense-related sectors starting to show.”
MUFG expects rate cuts will be delayed rather than cancelled; “We assume the BoE will hold off from a cut this month due to higher energy prices stemming from Middle East risks, before delivering two further cuts in Q2 and Q3.”
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The EURJPY pair renewed the positive attempts since yesterday, due to the continuation of providing positive momentum by the main indicators by its rally above the initial resistance at 184.80, to test the barrier at 185.45 to bounce directly to settle near 184.90.
The price might be forced to provide mixed trading by its stability below 184.45, and there is a chance for forming bearish waves to target 184.20 and 183.70 level, while its success to surpass the barrier at 185.45 will open the way for forming strong bullish waves, to expect reaching 186.00 initially, reaching 186.65.
The expected trading range for today is between 184.40 and 185.45
The GBP/USD pair prolongs its uptrend for the third consecutive day and rallies to over a two-week top on Wednesday, with bulls now looking to build on the momentum further beyond the 200-day Simple Moving Average (SMA). The US Dollar (USD) slumps to a nearly one-month low during the first half of the European session amid hopes for an end to the Middle East war and turns out to be a key factor acting as a tailwind for the currency pair.
US President Donald Trump announced in a post on Truth Social that he will suspend planned military strikes against Iran for two weeks. Iran also signaled a conditional willingness to de-escalate tensions, provided attacks against the country are halted. The positive development boosted investors’ sentiment, sending the safe-haven Greenback tumbling lower and assisting the GBP/USD pair in building on this week’s rise from the 1.3175 region.
Meanwhile, Iran’s Foreign Minister Seyed Abbas Araghchi wrote on X that safe passage through the Strait of Hormuz will be possible via coordination with the country’s Armed Forces and due consideration of technical limitations. Crude Oil prices crashed over 15% intraday amid optimism over the resumption of shipping traffic from the strategic waterway, easing inflation fears, and tempering expectations for more hawkish global central banks.
In fact, market bets for a rate hike by the US Federal Reserve (Fed) collapsed amid the unwinding of the inflation premium. The resultant steep decline in US Treasury bond yields further undermines the USD. Moreover, traders have sharply reduced Bank of England (BoE) rate hike bets and are now pricing in roughly 30-40 basis points (bps) of increases by the year-end. This still marks a significant divergence in comparison to the Fed and favors the GBP/USD bulls.
Market participants now look to the release of FOMC Minutes, due later during the US session. Apart from this, the US Personal Consumption Expenditures (PCE) Price Index and the US Consumer Price Index (CPI) on Thursday and Friday, respectively, will be looked upon for more cues about the Fed’s policy outlook. This, in turn, will play a key role in influencing the near-term USD price dynamics and providing some meaningful impetus to the GBP/USD pair.
GBP/USD daily chart
Technical Analysis:
The near-term bias turns mildly bullish as the GBP/USD pair holds just above the 38.2% Fibonacci retracement level of the January-March downfall. Spot prices now test the downward-sloping 200-day Simple Moving Average (SMA) at 1.3415 from above, suggesting emerging dip-buying interest around this long-term reference. Momentum improves, with the Moving Average Convergence Divergence (MACD) line crossing above its signal and edging back toward the zero line, while the Relative Strength Index (RSI) at 55 signals modest bullish momentum rather than overbought conditions.
A further move could face immediate resistance at the 50% retracement at 1.3505. A daily close above the said barrier would strengthen the bullish tone and open the way toward the 61.8% Fibo. retracement level at 1.3588. On the downside, initial support sits at the 38.2% Fibo. retracement level at 1.3422, aligned with the 200-day SMA near 1.3415, and a break below there would expose the 23.6% Fibo. retracement level at 1.3319 as the next downside level. As long as the GBP/USD pair holds above the 1.3415–1.3422 support band, the path of least resistance favors further recovery attempts toward the mid-1.3500s area.
(The technical analysis of this story was written with the help of an AI tool.)
Platinum price succeeded to surpass the moving average 55 by forming new bullish wave, achieving $2045.00 level this morning, which requires providing a new positive close above $1950.00 level, to confirm its readiness to form new bullish waves by reaching $2070.00, and surpassing this barrier might extend the trading towards $2130.00 reaching the next resistance at $2205.00 level.
While the return of fluctuation below $1950.00 will force it to activate the bearish corrective track again, forcing it to suffer some losses by reaching $1865.00 and $1800.00 before any new attempt to achieve any of the suggested positive targets.
The expected trading range for today is between $1950.00 and $2130.00
