Technical Analysis Post

Daily Market Report: Expert Technical & Fundamental Insights – 03.03.2025

| 03 March, 2025 at 11:00 GMT

EURUSD

EURUSD resumed the trading on Monday higher at $1.0415 after it fell by almost -0.5% in a week, two consecutive weeks of the negative closing. EU leaders remained committed to support Ukraine after the clash between the US President Trump & Ukraine’s Zelensky over the weekend. Busy day ahead from EZ with release of inflation numbers from EZ , and manufacturing PMI numbers from EZ, Germany, Spain , Italy & France. In the meantime, the focus is likely to remain on the political developments than economics. 

1H RSI kept increasing supported by bullish trend index in 1 H  and high volatility. Weekly & monthly forecasts remained mostly bearish . $1.0455 is the next target.

USDJPY

USDJPY was little changed today, trading at 150.47 after it recovered last week by 0.52%, however it remained down by more than -2.4% on monthly basis. As higher rates by BoJ were almost priced in, the focus is likely to shift to the US side that includes the US bond yields , USD index & new tariffs ( if any). Japan remained one of the closest allies to America, economically & politically. Unemployment rate & capital spending in Japan will be due later today. 

After is closed higher last week, traders’ sentiments remained fully bearish in one week forecasts, but mostly bullish in one month, what does that mean? It means that the traders expect higher US rates for longer, that’s why USD remained bullish for most of them. 151 is the next target. 149.35 is support.

GBPUSD

GBPUSD traded higher today at $1.2604, slightly fell last week. According to GFK index,  consumer confidence index remained negative in February. UK is still facing huge challenges with sticky inflation & weaker growth. BoE is likely to cut the rates further, however such a rate cut is not an easy job due to persistent, high  CPI numbers. Manufacturing PMI numbers will be due later today. 

Traders’ sentiments remained mostly bearish & volatility was low. $1.2560 is support & $1.2670 is resistance ( 1H chart).

Gold

How was the performance of gold last week? Gold lost -3% last week, with two consecutive weeks of loss, it traded slightly higher today at $2863 per ounce, the weakest level in almost  three weeks.  Global inflationary pressure due to Trump’s tariffs supported gold, while the last two weeks’ loss may not reflect the fact that the appetite for gold remained robust. Keep an eye on manufacturing numbers from the US & China on Monday.  

1H price action increased; higher bets remained fragile. $2835 is an important support. Traders must be careful as the forecasts showed that the sentiments remained bearish on gold in both monthly & quarterly expectations, however markets’ sentiments may change quickly.

Silver

Silver lost -3% in a week, trading higher today at $31.26 per ounce. Trump added 10% tariffs on Chinese imports, effective on March 4, not to forget 25% on Mexican imports as well. Mexico is World’s number one silver producing country in the World, and with 25% tariffs on imports, cost of mining is likely to increase, which is different from the price of silver itself , however  If the demand shows no improvement, silver may start falling, and stocks of sliver mining’s companies will be under pressure. Manufacturing numbers from the US, China & EZ will important today. 

Hourly trend index remained bearish, but volatility is expanding. $30.85 is support,  $31.50 the next target. Price action remained slow & cautious.

Oil – WTI

Crude oil prices slightly increased today after weekly loss in WTI -1% & Brent  -2.4%, WTI traded at $69.96PB today followed by $72.98 PB for Brent. What oil markets started to realize was  that the agreement between Russia & Ukraine remained doable, backed by Trump’s admin, and if that happens the sanctions on Russian oil exports may start reducing. At the same time, global demand & manufacturing numbers remained vital for long-term outlook. Geopolitical tensions will  not last forever.

 1H trend index remained bearish. Technical diagram shows that buying from dips was short-lived. $69.30 is support, then $68.70. Traders’ forecasts remained mostly bullish in weekly & monthly forecasts, which may indicate to gradual  & slow bullish positioning. 

DAX

German DAX index gained 1% last week, DAX futures traded higher today at 22650. According to Reuters, Germany’s coalition parties are considering massive $415 billion fund for defense & similar -sized fund for infrastructure, if that happens, DAX is likely to rally to new record highs. Keep ana eye on Germany’s manufacturing PMI later today & domestic political developments.  

Price action is heading higher to 22800. 22370 is support. 1H trend index is bullish.

Nasdaq

Two of the major US stock indexes closed lower last week; stock futures traded higher on Monday. Nasdaq had the biggest loss among US equities indexes by -2%, followed by -0.33% in SPX, while  Dow Jones gained 1%. Important economic data from the US on Monday that includes ISM manufacturing, manufacturing new orders, and S&P global manufacturing as well. We watch closely the political developments from the White House. 

1H Pirce action is heading higher now to 21100, then 21300. 20500 is an important support. 1H trend index remained somehow bearish, but the daily one was bullish which means that the mid-term outlook could be better than the short-term speculations.

BTCUSD

Major cryptocurrencies fell again today , led by BTC -2.5% to $91800, Eth -5.6%, Cardano -11% and XRP -8.2%. Yesterday, cryptos rallied after trump announced building strategic crypto reserve which includes BTC, Eth, XRP , Solana & Cardano, all theses cryptocurrencies rallied on Sunday. But it is unclear how the new stockpile will work, that’s why cryptos fell today. Crypto market cap increased again above $3 trillion after it fell to $2.6 trillion three days ago. 

1H RSI was overbought before started falling, targeting $88200. $84100 is strong support, keep an eye on it. Weekly forecasts were purely bearish, however the monthly ones remained mixed 50% each , between bullish & bearish.