Market Analysis Review

Daily Market Report: Expert Technical & Fundamental Insights – 05.03.2025

| 05 March, 2025 at 12:00 GMT

EURUSD

EURUSD traded higher today & rose to $1.678, the highest since last November boosted by the optimism that Ukraine may agree on Trump’s conditions & the negotiations to end the war with Russia may happen very soon. There was no economic fundamental behind such a quick rally. At the same time, Trump’s tariffs & policy may result in weaker USD, that’s something the traders already kept in mind few months earlier even if US rates remained higher than EZ & other advanced economies. Busy day ahead from EZ with PMI services from EZ, Germany, Spain , Italy & France, not to forget PPI numbers as well. 

As chart shows, price action was extremely bullish and was already overbought ( above 70 on 1H RSI) ,  however momentum remained intact. $1.0607 is support ( correction , if happens).

USDJPY

USDJPY traded slightly weaker today due to weaker USD index, little changed at 149.62. According to BoJ’s deputy governor, BoJ’s reduction in JGB has been limited which means that the monetary policy remained accommodative. Keep an eye on the US developments from the White House, and employment in the US private sector later today. 

1H trend index was bearish, positively correlated to the bearish markets’ forecast in one week. 148.20 is support. 150.15 is the next resistance. Momentum indicator remained negative for now.

GBPUSD

We have clarified many times before that the dynamics in FX market play major role in the daily fluctuations, and sometimes not even correlated to economic fundamentals, that’s what happened to GBP today , GBPUSD gained & traded at the highest  level since November at $1.2843. BoE monetary policy report hearings will be conducted later today by Treasury Committee which was appointed by House of Commons. UK services PMI will be due later today. 

1H RSI is already overbought, but trend index remained strongly bullish, heading higher to new resistance. $1.2765 is support ( profit taking ). 

Gold

Three consecutive days of the strong performance, gold traded higher today at $2918 per ounce, on the way to recover from its weekly loss. As Trump’s tariffs chaos continued, gold remained the favorite asset to hedge against markets’ risk, not to forget that weaker USD will add another value to hold the precious metal. We watch closely the US data today , mainly jobs in private sector & Fed’s beige book which normally reveals  the current US economic situation according to 12 Federal Reserve Districts. 

Both, 1H price action & trend index remained bullish , heading higher to $2925. $2902 & $2887 are support levels & targets for short selling.

Silver

Silver rallied by more than 1.3% & traded higher today at $32.34 per ounce. China’s services PMI improved in February ( positive ) , at the same time, the retaliation by China to Trump’s tariffs increased the tensions that may impact supply & demand in silver market with supply chain disruptions ( if any). Better factory orders from the US later today  ( if any) are likely to have bullish impact on markets’ sentiments. 

Price action remained bullish, heading higher to $32.50 . Hourly & daily trend index remained bearish , however velocity of the price action remained intact.

Oil – WTI

Crude oil prices kept falling & traded lower today by -1% , WTI $67.60PB, Brent $70.67PB. OPEC+ production increases with monthly increases of 138K barrels until last 2026. According to API, US weekly crude oil inventories fell by -1.5 million barrels last week, higher than markets’ estimates. OPEC + decided to phase out 2.2 million barrels a day of output cuts , starting in April. EIA will release the weekly crude oil inventories later today. Keep an eye on US factory orders as well. 

In the meantime, 1H trend index was bullish , supported by positive forecast in one week, 67% of the traders were bullish. $66.80 is support, 68.50 will be the next target ( resistance) . Repetition of the price action is still showing downtrend.

DAX

After falling by more than -3% on Tuesday, DAX index rallied by more than 2.5% today & surged to 22920, not far from all-time highs. Germany has plans to ramp up defense & infrastructure spending after country’s main centrist parties agreed to establish 500 billion Euros infrastructure fund. Siemens rose 5.7%, Airbus 2.7% and heavy-automakers stocks  increased, BMW 3.6%, Mercedes 2.7% & Porsche 3.3%. Germany’s services PMI will be due later today. 

Mixed sentiments prevailed, with 15M bullish trend index & hourly bearish trend. 1H RSI is trading sideways now. 22330 is support and 23100 is resistance.

Nasdaq

US stock futures increased today after it fell on Tuesday with  Dow Jones -1.5%, SPX-1.2% & Nasdaq lost -0.35%. Of the 11 SPS sectors, 10 sectors dropped. Traders are likely to slightly shift the attention from Trump’s tariffs & trade’s chaos to more economic data from the US later today that includes factory orders, jobs in US private sector and ISM services PMI, all of theses economic releases remined very crucial. Fed’ beige book will be revealed later today, showing the economic conditions in the US by 12 Federal Reserve Districts. Busy day ahead from America before nonfarm payrolls on Friday. 

Price action showed cautious attitude , while the technical chart may support further drop to 20150, which is the lowest since last November.

BTCUSD

Major cryptocurrencies traded higher today, Bitcoin $88315, Eth $2247, Cardano $0.9553 and XRP $2.50 . After Trump’s announcement that America will build strategic crypto reserve, traders are still waiting   for the actual steps & execution of the decision . Trump’s intention must have approval from the US Congress. In the meantime, crypto market cap is approaching again from $3 trillion. 

Price action in 1H chart kept advancing, backed by bullish trend index & targeting $90300. $85K is support. Markets’ sentiments remained mixed & divided in one month’s forecasts.