(By ATFX Analyst Team)
Summary
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Global Market Review 30/03/2026
U.S. stocks tumbled last Friday, with all three major indices hitting seven-month lows as the Dow entered correction territory (closing down 1.73%, S&P 500 down 1.67%, and Nasdaq down 2.15%). The U.S. Dollar and Treasury yields rose on escalating Middle East tensions and fading hopes for de-escalation. Meanwhile, gold rebounded nearly 3% on dip-buying, while oil prices surged over 7% as markets remained sceptical of any ceasefire in the month-long conflict involving Iran.
Key Events Today:
Europe Daylight Saving Time (DST) starts
- 07:50 BoJ Summary of Opinions
- 17:00 EU Economic Sentiment MAR **
- 20:00 EU GERMANY CPI MoM Prel MAR **
Tomorrow
- 07:30 JP Unemployment Rate FEB **
- 08:30 RBA Meeting Minutes ***
- 09:30 CN NBS Manufacturing & Composite PMI MAR **
- 14:00 EU GERMANY Retail Sales MoM FEB **
- 14:00 GB GDP Final QoQ Q4 **
- 15:55 EU GERMANY Unemployment Rate FEB **
- 17:00 EU CPI YoY Flash MAR **
- 20:30 CA GDP MoM JAN **
- 22:00 US CB Consumer Confidence MAR **
Markets Analysis 30/03/2026
- Resistance: 1.1555/1.1586
- Support: 1.1445/1.1411
EUR fell 0.17% to 1.1509 on Friday. Safe-haven demand for the U.S. Dollar surged as Middle East de-escalation hopes faded. Heightened energy price risks in Europe and a hawkish repricing of U.S. rates—now factoring in potential hikes—continue to weigh on the pair.
Analyst View: The pair is consolidating within a descending channel on the 4H chart. Price is currently hovering near the 1.1499 (0.618 Fib) level. A sustained break below 1.1445 would signal a deeper corrective phase, while bulls must reclaim 1.1555 to neutralize the immediate bearish pressure.
Bias: Bearish below 1.1500.
- Resistance: 1.3318/1.3349
- Support: 1.3188/1.3157
Sterling fell for a fourth consecutive session, dropping 0.48% to 1.3268. Risk-off sentiment dominated as the 10-day “peace window” failed to reassure markets, while the complete removal of 2026 Fed rate-cut bets provided significant tailwinds for the Greenback.
Analyst View: Cable has decisively breached the lower boundary of its previous consolidation, with price action now following a steep downtrend. The failure to hold the 1.3318 pivot confirms a bearish shift in mid-term structure. A retest of the 1.3188 support zone appears likely unless a significant risk-on catalyst emerges.
Bias: Bearish below 1.3300.
- Resistance: 160.47/160.82
- Support: 159.27/158.99
USDJPY surged 0.34%, breaking the critical 160.00 handle to close at 160.35. Japan’s high energy import dependency makes the Yen exceptionally vulnerable to the current oil shock. Markets remain on high alert for a potential Bank of Japan (BoJ) intervention amid rising yields.
Analyst View: The pair is trending within an ascending broadening wedge, signalling heightening volatility. After breaching the 159.90 pivot, the price is testing the upper resistance cluster near 160.47. A sustained hold above 159.27 maintains the bullish momentum, though the risk of direct intervention is now critical.
Bias: Temporary high-level consolidation.
- Resistance: 108.29/113.26
- Support: 98.19/93.14
WTI gapped up over 2% Monday to $102.23 after a 5.5% rally on Friday. Geopolitical risk premiums returned as Houthi forces joined the conflict and the Pentagon prepared for potential ground operations. Supply disruption fears in the Strait of Hormuz remain the primary driver.
Analyst View: WTI has confirmed a bullish breakout from its consolidation phase, surging back into an ascending broadening wedge. The aggressive reclamation of the 98.19 (0.5 Fib) level reinforces the upward momentum. If the price sustains above the 103.24 pivot, the next major objective is the 108.29 resistance zone.
Bias: Hovering around the $100 mark.
- Resistance: 4536/4670
- Support: 4370/4234
- Resistance: 75.51/78.93
- Support: 64.39/61.03
Gold rose nearly 3% on Friday, trading near $4,483. Low-buying demand combined with escalating Middle East tensions (Houthi involvement) provided a strong safe-haven bid. However, the total elimination of 2026 Fed rate cut expectations is currently capping the upside.
Analyst View: Gold has pivoted out of its steep descending broadening wedge, establishing a firm short-term base at 4,234. Price is currently testing the 4,536 (0.382 Fib) resistance level. A confirmed breakout above this zone is necessary to shift the technical structure toward a sustained recovery and neutralise the medium-term bearish trend.
Bias: Biased toward range-bound trading.
- Resistance: 46211/46797
- Support: 44273/43516
The Dow plummeted to 45,166.64, confirming a 10% correction from its February highs. Stagflation fears driven by rising energy costs and hawkish Fed expectations led the index to its longest losing streak in nearly 4 years, hitting 7-month lows.
Analyst View: The index is accelerating downward within a steep descending channel, having decisively breached the 45,464 support . Momentum remains heavily bearish as price action tests the 44,273 support zone. A sustained reclamation of 46,211 is required to mitigate current downside risks and stabilise market structure.
Bias: Bearish below 45,400.
- Resistance: 23586/23854
- Support: 22698/22425
The NAS100 closed at 20,948.36, remaining deep in correction territory. Mega-cap tech names like Amazon and Nvidia dragged the index lower as bond yields surged. Consumer confidence, hitting a three-month low, further dampened the outlook for high-growth valuations.
Analyst View: The index is accelerating lower, having decisively breached the 23,854 support level. Technical structure remains fragile as price action targets the 22,698 (1.382 Fib) extension. A sustained recovery above the 23,586 resistance zone is essential to stabilise the prevailing bearish momentum.
Bias: Bearish below 23,000.
- Resistance: 68379/69603
- Support: 64437/63192
Bitcoin fell 4.1% to $66,094.5, marking a difficult weekly decline. A record $14 billion in options expiry, combined with escalating Middle East conflict and rising Treasury yields, hammered sentiment, as investors pivoted toward safe havens amid fading global rate-cut expectations.
Analyst View: BTC is trapped in a descending channel that looks increasingly like a tactical trap for bulls. The failure to hold the $67,000 psychological floor has shifted control to the bears. Until the 68,379 pivot is reclaimed, expect a “death by a thousand cuts” toward the 63,192 extension.
Bias: Bearish below 68,000.
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