Daily Market Analysis By FXOpen

[FXOpen Trader]

Market Analysis: EUR/USD Reclaims Ground While USD/JPY Momentum Fades


EUR/USD is recovering losses from 1.1500. USD/JPY is correcting gains from 159.00 and might decline further if it stays below 158.30.

Important Takeaways for EUR/USD and USD/JPY Analysis Today
- The Euro struggled to stay in a positive zone and declined below 1.1700 before finding support.
- There was a break above a connecting bearish trend line with resistance at 1.1580 on the hourly chart of EUR/USD at FXOpen.
- USD/JPY started a decent increase above 157.00 before the bears appeared near 158.90.
- There is a key contracting triangle forming with resistance near 158.30 on the hourly chart at FXOpen.

EUR/USD Technical Analysis

On the hourly chart of EUR/USD at FXOpen, the pair started a fresh decline from 1.1825. The Euro declined below 1.1750 and 1.1700 against the US Dollar.

The pair even declined below 1.1665 and the 50-hour simple moving average. Finally, it tested the 1.1500 zone. A low was formed at 1.1507, and the pair is now recovering losses. There was a move above 1.1550 and a connecting bearish trend line at 1.1580.

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Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only (excluding FXOpen EU). It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.

[FXOpen Trader]

Gold Price Falls to a Monthly Low


As the XAU/USD chart shows, gold prices today dropped below the 3 March low, reaching levels last seen in the third week of February.

Why Is Gold Declining Despite the War?
Geopolitical turmoil typically supports demand for gold as a safe-haven asset. However, in the current environment — with the Middle East conflict now lasting more than two weeks — the surge in oil prices and the associated inflation risks have moved to the forefront.

Market participants appear to believe that the Federal Reserve will keep interest rates higher for longer. This increases the attractiveness of US dollar-denominated instruments, particularly US Treasuries and money market assets. Rising yields on US government bonds confirm this shift in expectations and simultaneously weigh on gold, which does not generate interest income.



TO VIEW THE FULL ANALYSIS, VISIT FXOPEN BLOG

Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only (excluding FXOpen EU). It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.

[FXOpen Trader]

XTI/USD Chart Analysis: WTI Oil Price Fluctuates Near $100


For the third Monday in a row, trading in the oil market has opened with a bullish gap, although this time it is not as wide as the gap seen, for example, on 9 March. The reason for the volatility is clear — the ongoing military conflict in the Middle East, with no visible signs of de-escalation so far.

According to the latest media reports:

→ the Strait of Hormuz remains effectively closed;
→ over the weekend the United States struck Iran's Kharg Island, a key hub for the country's oil export infrastructure;
→ Iran launched an attack on the oil port of Fujairah in the UAE.



TO VIEW THE FULL ANALYSIS, VISIT FXOPEN BLOG

Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only (excluding FXOpen EU). It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.