(By ATFX Analyst Team)
Summary
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Global Market Overview 09/03/2026
The three major U.S. stock indices closed lower on Friday, with Dow Jones Industrial Average falling 0.95% to 47,501.55, marking its largest single-week percentage drop since April 2025, and the S&P 500 declining 1.33% to 6,740.00, its worst weekly performance since mid-October. The U.S. Dollar edged down in volatile trading but finished the week up 1.22%, its biggest weekly gain since mid-November 2024, while the Euro rose 0.1% against the dollar to 1.1618 but suffered a 1.7% weekly decline, the largest since April 2024.
In commodities, gold prices rose as weaker U.S. jobs data kept hopes for a Fed rate cut alive, with spot gold up 1.84% at $5,169.92 per ounce despite a 2% cumulative weekly drop—its first in five weeks. Meanwhile, crude prices skyrocketed following the escalation of conflict involving the U.S., Israel, and Iran; the effective closure of the Strait of Hormuz severely restricted regional supply and prompted production cuts from major Middle Eastern producers, causing oil to surge another 20% in early trading this morning after Friday’s 12% jump past $90.
Key Events Today:
- 09:30 CN CPI & PPI MoM FEB **
- 15:00 EU GERMANY Industrial Production MoM JAN **
- 17:30 EU Sentix Investor Confidence MAR **
Tomorrow:
- 07:50 JP GDP Final YoY Q4 **
- 11:00 CN Balance of Trade FEB **
- 22:00 US Existing Home Sales MoM FEB **
Markets Analysis 09/03/2026
- Resistance: 1.1653/1.1712
- Support: 1.1459/1.1383
EURUSD ticked up 0.1% to 1.1616 on Friday but still recorded its worst weekly drop since April 2024 (-1.7%). Rising U.S. unemployment offered a brief respite for the pair.
Analyst View: The pair is currently trading under a well-defined descending trendline, with price action seeking stability just above the 1.1459 support level. Despite the dollar’s brief softening post-NFP, bullish momentum for the Euro remains fragile within the existing bearish channel. A failure to reclaim the 1.1653 resistance zone likely keeps the door open for a deeper slide toward the 1.1383 level.
Bias: Bearish below 1.1560.
- Resistance: 1.3342/1.3420
- Support: 1.3218/1.3139
GBPUSD gained 0.42% to 1.3411 as Fed rate cut bets moved forward, following the dismal Nonfarm Payrolls report.
Analyst View: Despite the post-NFP bounce, GBP/USD remains confined within a sharp descending channel, testing resistance at the 1.3420 upper boundary. This move is primarily a technical correction within a broader bearish structure. Unless bulls decisively reclaim 1.3481, the focus remains on a potential slide back toward 1.3218.
Bias: Bearish below 1.3300.
- Resistance: 159.74/160.36
- Support: 157.66/156.86
The USDJPY fluctuated on Friday as broad USD weakness and safe-haven flows into currencies like the CHF balanced yield differential pressures.
Analyst View: USD/JPY maintains a robust bullish posture, trending along the upper boundary of an ascending channel after reclaiming the 157.66 level. As long as price action remains anchored above the 156.86 support zone, the path of least resistance points toward a retest of the 159.74 and 160.36 resistance targets.
Bias: Bullish above 158.
- Resistance: 107.74/110.27
- Support: 101.75/99.17
WTI Crude exploded over 20% at Monday’s open, hitting a multi-year high of $111.24. The Strait of Hormuz closure has blocked 140 million barrels over seven days, forcing production halts in Iraq and Kuwait.
Analyst View: Driven by an extreme war premium, WTI is in a vertical ascent, decisively flipping the 101.75 resistance into a major support zone on the daily chart. Momentum remains exceptionally strong as price tests the 110.27 level. Without immediate de-escalation, the path of least resistance remains upward, with the potential for further irrational spikes beyond established technical barriers.
Bias: Bullish above $100.
- Resistance: 5200/5284
- Support: 4994/4927
- Resistance: 84.16/87.04
- Support: 75.55/71.93
Gold traded near $5,116 in early Monday sessions. While weak Nonfarm Payrolls (-92k) sustained Fed rate cut hopes, a surging USD capped gains, leading to gold’s first weekly decline in five weeks.
Analyst View: Gold is showing resilience above the 5,062 Fibonacci level, currently attempting to stabilize and regain upward momentum. While a stronger USD caps immediate gains, the bullish structure remains intact as long as prices hold the 4,994 support zone, keeping a retest of 5,200 in play.
Bias: Consolidation below 5200.
- Resistance: 47853/48247
- Support: 46826/46522
Dow tumbled 0.95% to 47,501.55, marking its sharpest weekly percentage drop since April 2025. A 4.4% unemployment rate, combined with skyrocketing energy costs, fueled intense stagflation fears.
Analyst View: Following a breakdown from its prior consolidation, the index is now accelerating within a descending channel toward the 46,826 support zone. Sentiment remains bearish, with price action capped by a clear downtrend line. A failure to hold this base could trigger a further slide toward the 46,522 mark.
Bias: Bearish below 47600.
- Resistance: 25117/25317
- Support: 24274/24070
NAS100 dropped 1.59% as weak jobs data and escalating geopolitical risks hammered risk appetite. The VIX “fear gauge” surged to a four-year high, reflecting deep uncertainty over the economic outlook.
Analyst View: The index is in a sharp corrective phase, accelerating within a well-defined descending channel. Near-term sentiment remains extremely fragile as macro headwinds intensify and price action remains capped by trendline resistance. Failure to hold the 24,274 zone could expose a deeper slide toward the 24,070 mark.
Bias: Bearish below 24000.
- Resistance: 68285/69644
- Support: 64230/62525
Bitcoin fell toward $67,000 on Sunday as macro pressures and global uncertainty pushed sentiment into “Extreme Fear” territory. The asset slipped 0.85% to $67,127.9, dragging down broader market caps, while the Fear & Greed Index hit a “chilling” low of 12, its lowest since October.
Analyst View: Bitcoin has breached its prior support zone and is now facing heavy selling pressure below the 66,925 mark. Despite potential institutional accumulation, the technical outlook remains bearish as price tests the 64,230 zone. Failure to hold here could expose a deeper correction toward the 62,525 psychological floor.
Bias: Bearish below 68,285.00.
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Analyst View: Bitcoin is currently navigating a broad ascending channel and is undergoing a technical pullback after testing the upper resistance boundary. The price remains firmly above the 68,284 support level. The overall bullish structure stays intact as long as it holds the channel, with potential for another retest of 74,044.
Bias: Bullish above 66,925.00.
Enjoy trading! The content is for reference only. Please ensure that you understand the risk.
