President Trump stated that operations against Iran could last up to four weeks, though he added that developments are proceeding as planned and could wrap up sooner.
Global markets turned sharply risk-averse as escalating conflict in the Middle East reshaped sentiment across asset classes. The dollar strengthened on safe-haven demand, keeping EUR/USD capped near 1.1800 and pushing the yen toward multi-week lows despite lingering Bank of Japan tightening signals. Precious metals led the reaction, with gold jumping to a one-month high and silver spiking sharply as investors rushed for protection amid severe geopolitical disruptions. Sterling attempted a modest rebound but remained technically fragile, reflecting persistent downside risks. Overall, heightened geopolitical stress has overtaken macro data as the dominant driver, leaving markets highly sensitive to further developments.
| Time | Cur. | Event | Forecast | Previous |
The EUR/USD pair is currently trading around 1.1786, showing mixed momentum as it fluctuates near the 1.1800 level. Technical support is identified at 1.1742, with significant resistance further up at 1.2082. The pair's direction is primarily tied to U.S. dollar strength, as investors look toward next week’s labor report for hints on the Fed's 2026 strategy. Meanwhile, cooling German inflation expectations may cap any potential euro gains.
For EUR/USD, the initial resistance is seen at 1.1820, while the closest support is positioned at 1.1750.
| R1: 1.1820 | S1: 1.1750 |
| R2: 1.1860 | S2: 1.1710 |
| R3: 1.1910 | S3: 1.1640 |
The Japanese yen weakened toward 156.5 against the dollar as the US Dollar surged following reports of significant U.S. and Israeli strikes on Iran. This escalation, including the reported death of Iran's Supreme Leader and disruptions in the Strait of Hormuz, has intensified global conflict concerns. Adding to the currency's pressure is ongoing uncertainty regarding the Bank of Japan's next move, despite official signals that a rate hike remains on the table.
Technically, resistance stands near 156.80, while support is firm at 155.50.
| R1: 156.80 | S1: 155.50 |
| R2: 157.70 | S2: 154.20 |
| R3: 159.60 | S3: 153.50 |
Gold surged over 1% to surpass $5,370 per ounce, reaching its highest level in a month as investors rushed toward safe-haven assets. The rally followed coordinated U.S. and Israeli strikes on Iran, which heightened regional instability and interrupted Gulf shipping. This spike concluded a strong February, marking gold's seventh consecutive monthly gain. Prices remain supported by global tensions, central bank demand, and a diminishing interest in sovereign bonds and traditional currencies.
Gold sees support near $5420, while resistance is around $5300.
| R1: 5420 | S1: 5300 |
| R2: 5500 | S2: 5250 |
| R3: 5280 | S3: 5180 |
The GBP/USD pair recovered to approximately 1.3450 during Monday's Asian session, though it remains within a bearish descending channel. Trading below the nine-day EMA of 1.3504 suggests limited upward potential, while the RSI at 40 indicates persistent selling pressure without reaching oversold territory. Immediate support sits near 1.3350, with further risks toward 1.3140. Yet, a decisive break above the 1.3504–1.3518 range could shift momentum and target the 1.3630 level.
From a technical view, support stands near 1.3440, with resistance around 1.3530.
| R1: 1.3530 | S1: 1.3440 |
| R2: 1.3580 | S2: 1.3400 |
| R3: 1.3650 | S3: 1.3340 |
Silver prices surged 2.8% to $96.4 per ounce on Monday, fueled by safe-haven demand after major military escalations in the Middle East. Over the weekend, U.S. and Israeli strikes on Iran resulted in the death of Supreme Leader Ayatollah Ali Khamenei and the closure of the Strait of Hormuz, a vital global energy route. While Iran retaliated against regional U.S. assets, market sentiment was further complicated by higher U.S. producer price data. This has clouded the Federal Reserve's rate-cut timing, even as markets anticipate two reductions later this year.
From a technical view, resistance stands near $95.90 while support is located around $92.20.
| R1: 95.90 | S1: 92.20 |
| R2: 97.80 | S2: 89.40 |
| R3: 100.00 | S3: 86.00 |
Global markets adopted a cautious tone as renewed uncertainty around US–Iran negotiations supported the US dollar and limited upside across risk assets.
German Producer Prices Stabilize Amid Energy RisksGermany’s producer price index (PPI) delivered a complex set of results in March 2026, signaling a potential end to a year long period of deep deflation while also highlighting fresh inflationary risks.
Detail
Ceasefire and Oil Volatility Drive Markets (20 – 24 April)Global markets navigated a volatile week as shifting signals from the United States–Iran conflict kept sentiment fragile. Early optimism around a potential resolution, including claims of a 10-day ceasefire between Israel and Lebanon and the reopening of the Strait of Hormuz, briefly eased inflation concerns and reduced safe-haven demand. However, conflicting developments, including renewed uncertainty over the blockade and energy supply risks, kept oil prices elevated and prevented a full recovery in risk appetite.
DetailThen Join Our Telegram Channel and Subscribe Our Trading Signals Newsletter for Free!
Join Us On Telegram!
