Technical Analysis Post

Daily Market Report: Expert Technical & Fundamental Insights – 07.03.2025

| 07 March, 2025 at 12:00 GMT

EURUSD

EURUSD continued the bullish performance, trading higher today at $1.0827, the highest since last November 6th , on track to the best weekly closing since November 2024 with more than 4% increase in a week. As expected, & already priced in, ECB cut the rates yesterday by 0.25% to 2.65% and acknowledged that monetary policy is becoming less restrictive. Retail sales in EZ contracted by -0.3% MoM in January , weaker than the estimates. Performance of USD will rely on US job market numbers later today.  

As chart shows, price action was bullish and was already overbought ( above 70 on 1H RSI) before slightly fell , but price action kept advancing.   Correction to $1.0760 could happen. 1H trend index remained bullish.

USDJPY

With almost -2% loss in a week, USDJPY is on track to the worst weekly performance in a month. USDJPY fell again to 147.65, the lowest level since September 2024. It was a mix of weaker US bond yields, lower USD & slightly hawkish stance by BoJ policy makers which led to stronger Yen. This currency pair is the most vulnerable to US nonfarm payrolls. Keep in mind that global trade chaos due to Trump’s tariffs will keep the demand for Yen intact. 

1 week forecasts remained extremely  bearish by the traders, and price action supports further drop to 147.50 ( executed ) then 147.15  .

GBPUSD

GBPUSD gained 2.6% in a week, on track to the best weekly gains since last January 2025. GBPUSD rose today to $1.2912, the highest since November 12th as USD weakened. The performance of GBP was the best example on how currency market dynamics play an vital role in the daily fluctuations, no to forget that UK economy is not really doing well , facing huge challenges mainly by stick & persistent inflation. 

Traders remained skeptical about stronger GBP according to their forecasts, but 1H price action is hovering higher & targeting $1.2925. $1.2810 is an important support (1H chart).

Gold

Will the US nonfarm payrolls disrupt the appetite for gold? Gold traded higher today at $2918 per ounce. Busy day ahead for gold traders who will closely watch the US nonfarm payrolls & wages growth as well. Stronger fundamentals from the US may curb the demand for now. Gold was able to maintain the weekly gains by more than 2% until today. Weaker exports & imports from China could put pressure on China’s policy makers for more dovish stance which will be another factor traders don’t want to miss. 

Price action kept advancing, supported by bullish trend index in 1H. Quick speculations may happen immediately before & after the US nonfarm payrolls, so be careful in your risk exposure.

Silver

Silver was little changed today, trading at $32.62 per ounce. China’s exports & imports fell in February 2025, came worse than the estimates with contraction by -8% in imports. While Trump delayed Canada & Mexico tariffs for now, tariffs are likely to remain intact and will be imposed  later. Weaker demand from China is likely to have negative impact on silver market even if silver remained up by 12.8% YTD. 

Considering the hourly & daily trend index, both remained bearish. $23.45 & 32.25 are support levels. $32.75 is resistance. 1H RSI is moving sideways now.

Oil – WTI

Crude oil price traded higher today & gained by 1.2%, WTI $67.24PB, Brent $70.27PB. This week is going to be the worst weekly loss since the beginning of 2025. OPEC+ decided to revive output in April which means more oil supply. In the meantime, Russian President Putin expressed his interest in Ukraine peace deal , if that happens then sanctions relief on Russian oil exports is  likely to be implemented. 

1H price action advanced ( speculation) supported by 1H trend index, targeting $67.85. Traders’ forecasts remained bullish by most of the traders, even if the long-term outlook looks  somehow gloomy.

DAX

German DAX index fell today by more than -1.5%m followed by other EU stock indexes, France -1.1%, Spain -0.67% & Italy -0.20%. Yesterday , DAX closed higher by more than 1% at new record-high 23360. Germany’s factory orders in January fell by -7%, weaker than before. DAX performance was mainly built on ECB dovish stance & additional package by almost 500 billion EUR to support the German economy in defense & infrastructure. 

Correction & profit taking were happening & highly expected, targeting 22900. Trend remained bullish .

Nasdaq

US stock futures traded slightly higher today after falling on Thursday by -2.6% in Nasdaq, -1.6% SPX and Dow Jones lost -1% , all these indexes remained down by more than -3% in a week in both Nasdaq & SPX, and -2.7% in Dow Jones. The decision to delay tariffs on Canada & Mexica gave relief to the markets, but likely to be short-lived. Weekly initial jobless claims cane at 221K in last week, which was better than before. Busy day ahead with US nonfarm payrolls, unemployment numbers, wages growth & Fed’s Chair Powell speech as well.  

Our technical view was accurate & the target at 20150 was executed.  Volatility remained high but price action has not become fully bullish. 20400 will be the next target.

BTCUSD

Bitcoin fell today to $88390, followed by -0.72% in Eth -3.7% in Cardano & XRP. Solana gained 0.94%. According to Bloomberg, Emirates NBD, Dubai largest bank will start offering crypto trading though its digital banking subsidiary  Live X. Dubai became a global hub for crypto traders, firms with comprehensive regulations & tax – free environment.

Traders’ forecasts remained mostly bearish in one week & mixed in one month’s outlook. $85400 is support, $90400 is resistance. Daily trend index was bearish but 1H price action remained cautious.