(By ATFX Analyst Team)
Summary
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Global Market Overview 11/03/2026
U.S. equities saw their Tuesday rally cool as hopes for a swift end to the Iran-Israel conflict were tempered by persistent fears of “stagflation.” The S&P 500 erased early gains to finish in the red. The Dow Jones Industrial Average closed down 0.07%, the S&P 500 fell 0.21%, and the Nasdaq Composite managed a slight gain of 0.07%. The U.S. Dollar rebounded modestly after an initial slide, as market sentiment improved slightly on easing oil supply concerns.
In the commodities space, spot gold surged by more than 1% overnight as investors awaited both the U.S. inflation report and clearer signals from the Middle East; it eventually settled up 1.1% at $5,191.31 per ounce. Despite Trump’s signals regarding a potential resolution to the war, oil prices ended slightly higher after a volatile session, as the market continues to weigh ongoing supply constraints against evolving geopolitical risks.
Key Events Today:
- 15:00 EU GERMANY CPI MoM FEB **
- 20:00 OPEC Monthly Oil Market Report **
- 20:30 US CPI YoY FEB ***
- 23:30 EIA Crude Oil Stock Change **
Tomorrow:
- 17:00 IEA Monthly Oil Market Report **
- 20:30 US Initial Jobless Claims ***
- 20:30 US Housing Starts & Building Permits JAN **
- 20:30 US Balance of Trade JAN **
Markets Analysis 11/03/2026
- Resistance: 1.1712/1.1771
- Support: 1.1520/1.1459
EUR/USD edged lower to near 1.1625 on Tuesday. While cooling oil prices eased some inflationary pressure, ongoing uncertainty in the Middle East kept investors away from riskier currencies.
Analyst View: The pair remains confined within a bearish channel, currently trading below the 1.1653 resistance level. Despite brief USD softening, Euro’s rebound momentum stays fragile. Failure to decisively reclaim 1.1712 leaves the door open for a retest of the 1.1459 support zone.
Bias: Upside limited below 1.1660.
- Resistance: 1.3544/1.3606
- Support: 1.3342/1.3281
Sterling remained under pressure, hit by both weak economic data and domestic political instability. While USD weakness offered some relief, Sterling’s rebound momentum lagged behind other non-USD peers.
Analyst View: The pair is struggling to stabilize near the 1.3342 support, remaining confined within a clear bearish channel. With domestic political uncertainty weighing on sentiment, failure to reclaim and hold above 1.3544 leaves the door open for a retest of the 1.3281 floor.
Bias: Mildly bullish above 1.3420.
- Resistance: 158.93/159.74
- Support: 157.66/156.86
The pair slipped 0.1% on Tuesday after hitting a six-week high. Sharp geopolitical reversals caused complex safe-haven flows, with the Dollar’s pull-back providing a short-term boost to the Yen.
Analyst View: The pair is consolidating within a bullish channel, currently rejecting support at 157.66. While the Dollar’s retreat applies pressure, the bullish structure remains intact as long as prices hold above 156.86, keeping a retest of 158.93 in play.
Bias: Mildly bullish above 158.00.
- Resistance: 89.28/95.35
- Support: 77.15/71.19
Oil prices saw wild swings, plunging 11% intraday to test $76 before settling at $86.39. Trump’s forecast of a swift end to the war and hints at lifting Russian oil sanctions significantly eased supply disruption fears.
Analyst View: Following extreme selling pressure, WTI is attempting to establish a base above 77.15. While macro expectations have improved, lingering risks in the Strait of Hormuz keep gains in check. Reclaiming 89.28 is essential to alleviate downward pressure; otherwise, consolidation near recent lows remains the likely path.
Bias: Consolidating below $90.
- Resistance: 5284/5354
- Support: 5131/5063
- Resistance: 91.50/93.64
- Support: 84.98/82.29
Gold surged 1.9% on Tuesday to close at $5,231. While Trump’s predictions of an early end to the war eased inflation fears, a weakening USD provided pivotal support for the metal.
Analyst View: Gold is attempting to regain bullish momentum above 5,131, currently nearing the 5,284 resistance level. As haven demand softens with cooling geopolitical tensions, bulls need a decisive break above the current resistance near 5199 to pave the way toward 5,354.
Bias: Bullish bias above $5,200.
- Resistance: 48247/48556
- Support: 47224/46826
The Dow slipped 0.07%. Early gains on peace hopes were erased by reports of Iranian mining in the Strait of Hormuz, as the U.S. threatened forceful retaliation, dimming hopes for a swift resolution.
Analyst View: The Dow accelerated its decline within a descending channel after breaking prior support, now testing the 47,224 area. Sentiment remains fragile as geopolitical tensions reignite. Failure to hold the 46,826 floor could expose a deeper slide toward the 46,522 level.
Bias: Mildly bullish if it breaks 48,000.
- Resistance: 25317/25516
- Support: 24721/24470
The NAS100 edged up 0.01%, with tech being the sole gainful sector in the S&P 500. Resilience in chipmakers like NVIDIA supported the index, though re-emerging geopolitical risks kept overall sentiment cautious.
Analyst View: The NAS100 is currently consolidating above the 24,721 support as bulls attempt to establish a base within the descending channel. While geopolitical concerns cap immediate gains, a decisive break above 25,317 would clear the path for a retest of 25,516.
Bias: Mildly bullish above 24,900.
- Resistance: 72733/74072
- Support: 66936/65573
Bitcoin climbed 2.1% to $69,869 on Tuesday as risk appetite returned following Trump’s comments on a potential early end to the Iran conflict. The asset recovered from a brief plunge to $65,000 caused by earlier inflation fears.
Analyst View:
Bitcoin is showing strong recovery momentum, reclaiming the 68,299 pivot. Easing geopolitical risks are fueling a test of the 71,347 resistance. A decisive breakout could clear the path toward the 72,733 channel top or new all-time highs.
Bias: Bullish above 65,573.
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