Copper prices failed to provide positive close above $5.9700 level, which forces it to delay the bullish rally and provide sideways trading, fluctuating near $5.9400 level.
The sideways trading might continue in the near period, until it is activated the main indicators’ positivity, to reinforce the chances of resuming the rise and reaching positive stations that is located at $6.1200 and $6.2400 level, while reaching below $5.8100 will force it to suffer some losses before reaching the suggested positive stations.
The expected trading range for today is between $5.8500 and $6.1200
The Euro has been very choppy during the month of February as traders are trying to figure out where the two central banks are heading at the moment.
EURUSD
The Euro has been very choppy during the month of February as traders continue to try to sort out what the outlook is going to be for the Federal Reserve and the US dollar. Quite frankly, this pair will probably move on what goes on in Washington DC rather than anything on the continent of Europe, at least as far as I can see looking forward.
The Federal Reserve is thought to be potentially cutting rates 2 times later this year, but the reality is that the United States economy—not only the inflationary numbers but also the labor numbers—have made it not as certain as it once was. This has been the story for 2 years now where the market starts to try to price in the idea of the Federal Reserve cutting aggressively and the reality is something quite different.
Resistance and Monetary Policy
This is not to say that the US central bank is going to start hiking rates, but the reality is that it is not as dovish as a lot of people would have thought. With that being the case, I think you have to look at this as a pair that most likely will be choppy in the month of March as well. If we do rally, the 1.23 level is a major resistance barrier going back several years and it is at least in theory the measured move of the consolidation area that we have been in since last summer.
Quite frankly, this is all about the US dollar as I mentioned previously and I really don’t have an opinion on the Euro because we know that the European Central Bank is likely to be flat for the rest of the year as far as its monetary policy is concerned and economic growth, or lack of growth in the European Union depending on the country that you are talking about, is a bit of a mixed picture.
Ultimately, there are a lot of geopolitical concerns that could work in the favor of the US dollar so I believe that unless the Euro can break the 1.20 level during the month of March it is likely to remain a very tight market that you will be looking for fading signs of exhaustion.
The GBPJPY pair ended the last negative attack by reaching 209.15 target, forming an important extra support, which pushes it to form strong bullish rebound, to approach the initial barrier at 210.45.
Noticing stochastic attempt to provide bullish momentum by its rally above 50 level, and the price attempt to settle above the moving average 55 makes us prefer the bullish attempts again, to settle above 210.65 to begin targeting positive stations by its rally above 211.25, attempting to press on 212.05 resistance again.
The expected trading range for today is between 209.80 and 211.25
Coffee price kept its stability above 275.80 support until this moment, attempting to find a chance to reduce the losses, farming sideways waves by its fluctuation near 280.00 level.
The price needs new bullish momentum, reinforcing the chances of beginning recovering the losses, to expect its rally towards 293.50 directly, to press on the barrier at 301.00, while the decline below the current support will confirm the continuation of the negativity in the upcoming trading, expecting the next negative target at 264.80 level.
The expected trading range for today is between 275.00 and 293.50
EUR/JPY pares daily losses but remains in the negative territory, trading around 184.00 during the early European hours on Monday. The technical analysis of the daily chart shows a consolidation phase as the currency cross remains within the horizontal channel.
The 14-day Relative Strength Index (RSI) at 55.38 sits above its midline and confirms positive momentum rather than overstretched conditions, aligning with scope for further upside while the moving average zone continues to underpin the pair.
The near-term bias stays mildly bullish as spot holds above the clustered nine- and 50-day Exponential Moving Averages (EMAs) around 183.70–183.10, keeping the broader uptrend intact despite recent consolidation.
Price has recovered from last week’s dip toward 181.00 and now trades comfortably above the latest swing area, suggesting buyers retain control on pullbacks. The EUR/JPY cross may target the upper boundary of the horizontal channel around 185.90, followed by the all-time high of 186.88, reached on January 23.
On the downside, primary support lies at the nine-day EMA at 183.69, followed by the 50-day EMA at 183.07. Further declines below the averages would weaken the momentum and expose a two-month low at 180.81, recorded on February 12, aligned with the lower horizontal channel boundary around 180.50. Further declines would cause the emergence of the bearish bias and put downward pressure on the EUR/JPY cross to navigate the region around the four-month low at 175.70.
EUR/JPY: Daily Chart
(The technical analysis of this story was written with the help of an AI tool.)
Euro Price Today
The table below shows the percentage change of Euro (EUR) against listed major currencies today. Euro was the weakest against the US Dollar.
USD
EUR
GBP
JPY
CAD
AUD
NZD
CHF
USD
0.77%
0.81%
0.53%
0.14%
0.77%
0.86%
0.36%
EUR
-0.77%
0.05%
-0.26%
-0.62%
0.00%
0.10%
-0.40%
GBP
-0.81%
-0.05%
-0.31%
-0.66%
-0.04%
0.05%
-0.45%
JPY
-0.53%
0.26%
0.31%
-0.37%
0.25%
0.34%
-0.16%
CAD
-0.14%
0.62%
0.66%
0.37%
0.62%
0.71%
0.22%
AUD
-0.77%
-0.00%
0.04%
-0.25%
-0.62%
0.10%
-0.40%
NZD
-0.86%
-0.10%
-0.05%
-0.34%
-0.71%
-0.10%
-0.50%
CHF
-0.36%
0.40%
0.45%
0.16%
-0.22%
0.40%
0.50%
The heat map shows percentage changes of major currencies against each other. The base currency is picked from the left column, while the quote currency is picked from the top row. For example, if you pick the Euro from the left column and move along the horizontal line to the US Dollar, the percentage change displayed in the box will represent EUR (base)/USD (quote).
Gold is taking a breather after the initial run to over one-month highs near $5,400, kicking off the new week with a bang.
A global flight to safety theme, following the US-Israel joint attacks on Iran over the weekend, bolstered the demand for the traditional store of value, Gold.
Gold thrives on risk aversion and global uncertainty
Gold buyers resort to cashing in on their long positions, fuelling a modest retracement in the prices heading toward the European opening bells.
However, the bullish potential for Gold remains intact in the near-term amid continued geopolitical escalation in the Middle East.
The Times of Israel reported that the Israel Defence Force (IDF) struck Hezbollah targets in Beirut and across Lebanon in response to rocket fire.
Meanwhile, the UK Defense Ministry stated that British forces responded to a suspected drone strike at its military base in Cyprus.
Additionally, US President Donald Trump suggested the conflict could last for four more weeks, saying that attacks would continue until US objectives were met.
Gold also continues to draw support from surging Oil prices, caused by supply disruption fears, which could spike inflation and send the global economy into a tailspin once again. The bright metal is widely known as a hedge against inflation.
Several oil shipments were not permitted by Iran’s Islamic Revolutionary Guard Corps (IRGC) Navy to pass through the Strait of Hormuz.
“While Iran has yet to officially confirm that the vital waterway has been blocked, marine tracking sites showed tankers piling up on either side of the strait wary of attack or maybe unable to get insurance for the voyage,” according to the Guardian.
Looking ahead, all eyes remain on the Middle East tensions, while top-tier US economic data will also be awaited for fresh trading cues on Gold. However, geopolitical developments will continue to lead the sentiment.
US Defense Secretary Pete Hegseth is scheduled to hold a press conference at 13 GMT, according to the Defense Department on X.
Gold price technical analysis: Daily chart
The near-term bias is mildly bullish as price holds above the 21-day and 50-day Simple Moving Averages (SMAs), which both rise above the slower 100- and 200-day SMAs and signal an established uptrend. The Relative Strength Index (RSI) at 64.48 stays above the 50 midline, indicating firm but not extreme bullish momentum after cooling from earlier overbought readings. Price trades above the 50.00% Fibonacci retracement at $4,999.94 and the 61.80% retracement at $5,141.05 measured from the $4,401.99 low to the $5,597.89 high, reinforcing the view that recent pullbacks remain corrective within a broader advance.
Initial support aligns with the 21-day SMA near $5,036.64, ahead of the 50.00% retracement at $4,999.94, where a break would expose the 38.20% retracement at $4,858.82. Below that, the area around the rising 50-day SMA at $4,814.84 forms a deeper support zone. On the upside, immediate resistance emerges at the 78.60% retracement at $5,341.96, with a sustained break opening the way toward the prior swing high region near $5,598. A daily close above the 78.60% level would strengthen the bullish bias, while a drop through the 50.00% retracement would shift focus back to the lower supports.
(The technical analysis of this story was written with the help of an AI tool.)
Gold FAQs
Gold has played a key role in human’s history as it has been widely used as a store of value and medium of exchange. Currently, apart from its shine and usage for jewelry, the precious metal is widely seen as a safe-haven asset, meaning that it is considered a good investment during turbulent times. Gold is also widely seen as a hedge against inflation and against depreciating currencies as it doesn’t rely on any specific issuer or government.
Central banks are the biggest Gold holders. In their aim to support their currencies in turbulent times, central banks tend to diversify their reserves and buy Gold to improve the perceived strength of the economy and the currency. High Gold reserves can be a source of trust for a country’s solvency. Central banks added 1,136 tonnes of Gold worth around $70 billion to their reserves in 2022, according to data from the World Gold Council. This is the highest yearly purchase since records began. Central banks from emerging economies such as China, India and Turkey are quickly increasing their Gold reserves.
Gold has an inverse correlation with the US Dollar and US Treasuries, which are both major reserve and safe-haven assets. When the Dollar depreciates, Gold tends to rise, enabling investors and central banks to diversify their assets in turbulent times. Gold is also inversely correlated with risk assets. A rally in the stock market tends to weaken Gold price, while sell-offs in riskier markets tend to favor the precious metal.
The price can move due to a wide range of factors. Geopolitical instability or fears of a deep recession can quickly make Gold price escalate due to its safe-haven status. As a yield-less asset, Gold tends to rise with lower interest rates, while higher cost of money usually weighs down on the yellow metal. Still, most moves depend on how the US Dollar (USD) behaves as the asset is priced in dollars (XAU/USD). A strong Dollar tends to keep the price of Gold controlled, whereas a weaker Dollar is likely to push Gold prices up.
The EUR/USD exchange ended the week in a tight range after the US published a strong inflation report, raising concerns about the Federal Reserve’s next move. The pair was trading at 1.1817, a few points above last week’s low of 1.1745.
The core PPI inflation report moved from 0.6% to 0.8% on a MoM basis and from 3% to 2.9%. These numbers mean that inflation is still a major concern in the United States. As such, there is a risk that the Federal Reserve may not cut interest rates as soon as analysts were expecting.
US inflation may remain at an elevated level in the coming months now that a new war has started in the Middle East. Israel and Iran bombed key sites in Iran on Saturday, leading to a major retaliation by Iranian forces. The new war will likely lead to higher crude oil prices as oil ships are avoiding the Strait of Hormuz.
The EUR/USD pair also reacted to the latest European inflation report. Data by the German statistics agency showed that the headline Consumer Price Index (CPI) dropped from 2.1% in January to 1.9% in February.
Looking ahead, the US will publish the latest non-farm payrolls data on Friday. These numbers will provide more information on what to expect in the coming meetings. Economists expect the data to show that the unemployment rate remained unchanged at 4.3% in February as the economy added over 60k jobs.
The daily chart shows that the EUR/USD pair was flat on Friday. It was trading at 1.1817, a few points above last week’s low of 1.1743. It has also rebounded above the 50-day Exponential Moving Average (EMA).
At the same time, the pair has formed a falling wedge pattern, which is made up of two descending and converging trendlines. Also, the Relative Strength Index (RSI) and the MACD have pointed upwards.
Therefore, the pair will likely be highly volatile on Monday as investors assess the impact of the ongoing war in Iran and its impact on the market. The key support and resistance levels to watch will be at 1.1700 and 1.2000.
Crispus Nyaga is a financial analyst, coach, and trader with more than 8 years in the industry. He has worked for leading companies like ATFX, easyMarkets, and OctaFx. Further, he has published widely in platforms like SeekingAlpha, Investing Cube, Capital.com, and Invezz. In his free time, he likes watching golf and spending time with his wife and child.
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Quick overview
Silver has surged nearly 8% to the $93.80–$94.50 range due to escalating geopolitical tensions in the Middle East.
A critical liquidity trap in the COMEX market is causing a disconnect between paper and physical silver, heightening demand.
Major banks are revising silver price targets, with some predicting potential prices as high as $300 if supply issues persist.
Traders should exercise caution as the market approaches key resistance levels, with volatility expected at the Monday open.
Silver is no longer just a “precious metal”, it has become the primary financial barometer for global instability. As of today, Sunday, March 1, 2026, silver (XAG/USD) is ending the week with an explosive surge, trading in the $93.80–$94.50 range. This nearly 8% single-day gain follows the dramatic escalation of the US-Israel-Iran conflict, specifically the reported strikes on Tehran and the subsequent death of Iran’s Supreme Leader.
With the Strait of Hormuz facing a potential blockade and safe-haven demand hitting fever pitch, the “Silver Squeeze” of 2026 is entering a parabolic phase. When markets reopen on Monday, March 2, traders are bracing for a massive gap-up that could finally push silver into triple-digit territory.
The Fundamental Fire: War, Tariffs, and a 67M Ounce Deficit
The current rally is being supercharged by a “Triple-Engine” catalyst that gold simply cannot match:
The “Epic Fury” Risk Premium
Following the US-Israeli joint military operations (dubbed “Epic Fury” and “Roaring Lion”), geopolitical risk has reached a decade-high. Silver’s reaction, surging 8% compared to gold’s 2%, confirms its status as a “high-beta” safe haven. Investors are fleeing equities and the dollar, rotating into silver as a hedge against a prolonged Middle Eastern conflict.
The COMEX Liquidity Trap
A critical “paper vs. physical” disconnect is emerging. Recent reports of a 159-million-ounce sell order triggering a CME trading halt have raised alarms, as the order far exceeded the registered inventory available for delivery. With March First Notice Day approaching and registered stocks under 60 million ounces, the physical market is tighter than at any point since the 1970s.
The $100 “Institutional Target”
Major banks are rapidly revising their year-end targets. Deutsche Bank recently signaled that the current gold-to-silver ratio of 57 presents a significant upside risk to their $100/oz forecast. Meanwhile, billionaire Eric Sprott has warned that if the physical supply drain continues, a “revaluation shock” could eventually target the $300 mark.
[[XAG/USD-graph]]
Silver Technical Outlook: The Path to $104.14
On the 4-hour chart, silver is exhibiting a textbook ascending channel breakout. The metal has decisively reclaimed the $91.33 horizontal resistance, flipping it into a rock-solid support floor.
Silver Price Chart – Source: Tradingview
The Immediate Resistance: $95.00 – $104.14. The $95 level is the final psychological barrier. Once cleared, the channel extension points directly to $104.14 as the next major structural objective.
Support Safety Net: $91.33. This is the “Line in the Sand” for the bulls. As long as silver holds above this level on a daily closing basis, the parabolic trend remains intact.
Momentum Warning: The RSI is currently hovering near 70. While this indicates extreme bullish strength, it also signals that the market is entering “overbought” territory. Expect high volatility and potential “stop-hunting” wicks near the Monday open.
The Analyst’s Verdict: Watch the Monday Gap
As a professional analyst, I am advising extreme caution for the Monday open. We are likely to see a “Gap and Run” scenario if the headlines from the Middle East continue to deteriorate. However, silver is famous for its “bull traps”, if diplomatic de-escalation signals emerge over the weekend, we could see a rapid “fill the gap” move back toward $91.
Trade Idea: Look for bullish continuation above $95.00 targeting $104.14. Stop Loss: Place a tight stop below $91.33 to protect against a “buy the rumor, sell the news” reversal.
Arslan Butt
Lead Markets Analyst – Multi-Asset (FX, Commodities, Crypto)
Arslan Butt serves as the Lead Commodities and Indices Analyst, bringing a wealth of expertise to the field. With an MBA in Behavioral Finance and active progress towards a Ph.D., Arslan possesses a deep understanding of market dynamics.
His professional journey includes a significant role as a senior analyst at a leading brokerage firm, complementing his extensive experience as a market analyst and day trader. Adept in educating others, Arslan has a commendable track record as an instructor and public speaker.
His incisive analyses, particularly within the realms of cryptocurrency and forex markets, are showcased across esteemed financial publications such as ForexCrunch, InsideBitcoins, and EconomyWatch, solidifying his reputation in the financial community.
