Daily Market Lookup

• Gold prices fell in Asian trade on Monday, pressured by a rebound in oil prices as U.S.-Iran tensions showed few signs of cooling before the expiry of a ceasefire later in the week. Gold had logged mild gains last week amid growing optimism over a U.S.-Iran peace deal, although this notion was largely quashed after Iran closed the Strait of Hormuz again over the weekend. The U.S. fired on and captured an Iranian vessel attempting to skirt its blockade, President Donald Trump said on Sunday evening, with both sides also claiming the other had violated a ceasefire. Trump said that U.S. envoys were headed to Pakistan for more ceasefire talks. But Iranian media reported that Tehran had not committed to any future talks. Oil prices surged as much as 7% on Monday, keeping markets largely on edge over the inflationary effects of the Iran war. Concerns over energy-fueled inflation were a major weight on metal prices since the onset of the conflict in late-February. Silver had vastly outpaced gold last week after an industry report pointed to a worsening supply deficit in 2026.
• The U.S. dollar firmed to its highest level in a week against major currencies on Monday before paring gains as renewed U.S.-Iran tensions and fading hopes for a Middle East peace deal sent investors toward safe havens The United States said on Sunday that it had seized an Iranian cargo ship that tried to run its blockade, while Iran said it would retaliate, stoking fears about a resumption of hostilities. Tehran also said it would not participate in a second round of negotiations that the U.S. had hoped to kick off before its two-week ceasefire with Iran expires on Tuesday. The dollar index, which measures the U.S. currency against six peers, was at 98.30, hovering near its highest in a week and recouping some of its recent losses. The index is down 1.5% in April amid rising risk appetite on hopes for a peace deal. The index had surged 2.3% in March on haven demand after the war broke out. Analysts said the restrained moves in the currency markets, with the dollar giving back some of its early gains, pointed to lingering optimism that despite the setbacks over the weekend a resolution could still be on the cards. Chris Weston, head of research at Pepperstone, said while the tone is risk-off to start the week, the move so far "appears orderly rather than indicative of a major volatility shock." Now in its eighth week, the war has created the most severe shock to energy supplies in history, sending oil prices surging because of the de facto closure of the Strait of Hormuz, which typically handles about a fifth of the world’s oil shipments. The United States has maintained a blockade of Iranian ports, while Iran has lifted and then reimposed its own blockade on marine traffic passing through the crucial waterway. That spurred a rebound in oil prices on Monday. Brent crude futures jumped over 5% to $95.53 a barrel and U.S. West Texas Intermediate was at $89.08 a barrel, up over 6% The market’s focus will also be on the Bank of Japan meeting later this month. Governor Kazuo Ueda has refrained from pre-committing to an April rate hike with the war muddling the outlook, but he left a few hawkish signs after last week’s IMF meetings, suggesting tighter policy by June.
• Oil prices jumped more than 5% on Monday, on fears that the ceasefire between the United States and Iran could collapse after the U.S. seized an Iranian cargo ship, while traffic through the Strait of Hormuz stayed largely halted. Both contracts tumbled by 9% on Friday, their largest daily declines since April 18, after Iran said passage for all commercial vessels through the Strait of Hormuz was open for the remaining ceasefire period and U.S. President Donald Trump said Iran has agreed to never close the strait again. he United States said on Sunday that it had seized an Iranian cargo ship that tried to run its blockade while Iran said it would retaliate amid growing worries of a resumption of hostilities. Tehran also said it would not participate in a second round of negotiations that the U.S. had hoped to kick off before its two-week ceasefire with Iran expires this week. The United States has maintained a blockade of Iranian ports, while Iran has lifted and then re-imposed its own blockade of the Strait, which handled roughly one-fifth of the world’s oil supply before the war began almost two months ago. ore than 20 ships passed the strait on Saturday carrying oil, liquefied petroleum gas, metals and fertilizers, Kpler data showed, the highest number of vessels crossing the waterway since March 1.

Gold – XAU

Gold on Friday interaday high of US$4889.57/oz and low of $4767.60/oz. God is up by 0.767% at US$4829.05/oz.

Technicals in Focus:

On the daily charts, gold trades higher than 20DMA (2197). If it drops below this level, it could lead to 2,100. The MACD is currently above the zero line and the histograms are showing an increasing trend, indicating that there may be upward movement in the coming sessions. The RSI is currently at 83.04, which is in the overbought region, suggesting there may be selling pressure in the next 2 to 3 sessions. The Stochastic Oscillator is also in the overbought territory but has given a positive crossover, indicating a bullish stance for intraday trades, but rebound in expected in all the overbought indicators.

Trading Strategy: Sell on Strength

Sell below 4840-5020 keeping stop loss closing above 5100, targeting 4790-4750-4690-4605-4550 and 4500-4460-4420. Buy in between 4790-4420 with risk below 4420 targeting 4840-4870-4900 and 4940-4974-4995-5020.

Silver - XAG

Silver on Friday its intraday high of US83.03/oz and low of US$77.75/oz settle up by 2.84% at US$80.73/oz.

Technicals in Focus:

On daily charts, silver is sustaining above 20MA (25.05), breakage above will lead to 23.73. MACD is below the zero line and histograms are increasing trend, bringing a bullish stance in the upcoming sessions. RSI is in the oversold region, indicating a sell signal for now. The Stochastic Oscillator is in the overbought region and gives a positive crossover to show an upside move for the intraday trade.

Trading Strategy: Buy on Dips

Buy in between 79.50-73.00, targeting 79.90-80.50-81.20 and 82.00-82.90-83.50 with stop loss should be placed on the breakage below 73.00. Sell in between 79.90 84.00 with a stop loss above 84.00 targeting 79.60-79.00-78.50-77.40

Oil - WTI

Crude Oil on Tuesday high of US$93.14/bbl, an intraday low of US$88.30/bbl, and settled down by 3.88% to close at US$89.07/bbl.

Technicals in Focus:

On daily charts, oil is sustaining above its 100DMA i.e. 75.37, a support level, and breakage above will call for 77.48. MACD is above the zero line and histograms are in increasing mode will bring a bullish stance in the upcoming sessions. The Stochastic Oscillator is in the overbought region, giving a negative crossover to confirm a bearish stance; while the RSI is in the neutral region, more upsides can be expected to reach the overbought region, which is highly probable.

Trading Strategy: Neutral to Sell

Sell in between 87.90-93.30 with stop loss at 94.00, targeting 87.00-86.01-85.60 and 84.90-84.50-84.00. Buy above 87.00-83.90 with risk daily closing below 83.00, targeting 87.90-88.40-88.90-89.90 and 90.70-91.50-92.00-92.45-93.30.

EUR/USD

EUR/USD on Friday made an intraday low of US$1.1759EUR, a high of US$1.1848/EUR, and settled the day down by 0.121% to close at US$1.1763/EUR.

Technicals in Focus:

On daily charts, prices are sustaining above 100DMA (1.1661), which becomes immediate support, a break below will target 1.1695. MACD is above the zero line and histograms are increasing mode, bringing a bullish view. Stochastic is in oversold territory, giving negative crossovers to the bullish outlook for intraday. 14D RSI is currently in a neutral region and giving no directions to consider right now.

Trading Strategy: Neutral to Sell

Sell below 1.1790-1.1990, targeting 1.1755-1.1690-1.1655-1.1600 and 1.1565-1.1500-1.1450-1.1410 with stop-loss at daily closing above 1.1990. Buy above 1.1755-1.1450 with risk below 1.1450 targeting 1.1800 and 1.1920-1.1950-1.1990-1.2010.

GBP/USD

GBP/USD on Friday made a intraday low of US$1.3542/GBP, a high of US$1.3578/GBP, and settled the day down by 0.030% to close at US$1.3559/GBP.

Technicals in Focus:

On daily charts, prices are sustaining above 50DMA (1.2674) is becoming a support level. 14-D RSI is currently in a neutral region and direction is difficult to predict on an RSI basis. The Stochastic Oscillator is in oversold territory and gives a positive crossover to confirm a bullish stance. MACD is above the zero line, but histograms are increasing leading to movement.

Trading Strategy: Neutral to Buy

Based on the charts and explanations above; buy between 1.3525-1.3150 with a target of 1.3570 and 1.3600-1.3640-1.3690-1.3725 with a stop loss closing below 1.3150. Sell in between 1.3570-1.3820 with targets at 1.3490-1.3440-1.3395-1.3325-1.3275 and 1.3250-1.3190-1.3150 with a stop loss of 1.3900.

USD/JPY

USD/JPY on Friday made an intra‐day low of JPY157.58/USD an intraday high of 159.25/USD, and settled the day down by 0.297% at JPY158.63/USD.

Technicals in Focus:

In daily charts, JPY is sustaining above 100DMA (152.35), major support on the daily chart. 14-D RSI is currently in the overbought region and chances of downward are expected based on RSI. MACD is above the zero line but histograms are decreasing mode which might lead to downward movement. The Stochastic Oscillator is in overbought territory and signaling to sell as it has given a negative crossover to confirm a bearish stance.

Trading Strategy: Neutral to Sell

Sell below 159.50-163.10 with risk above 160.10 targeting 158.70-158.10-157.10-156.60 and 153.00-152.65-152.10-151.70. Long positions above 158.10-148.00 with targets of 157.90-158.30-158.70 and 159.20-159.45-160.00 with stops below 148.00.