Critical Bearish Bias Emerges As Energy Shock Repricing Intensifies
9
03, 2026
9
03, 2026
Forecast update for EURUSD -09-03-2026.
The EURJPY pair continued to provide weak sideways trading in Friday, affected by the continuation of forming 50%Fibonacci correction level at 183.40 barrier, while the current support settles near182.00 level, its stability decelerates the attempts of resuming the negative attack.
The contradiction of the main indicators makes us stay neutral for today and monitor the price behavior until surpassing one of these levels, so breaching the barrier will allow it to record some extra gains, to expect forming initial negative target at 181.55 level.
The expected trading range for today is between 182.00 and 183.00
Trend forecast: Neutral
9
03, 2026
The EURJPY continues to fluctuate– Forecast today – 9-3-2026
Platinum price formed a new bearish attack with the beginning of today’s trading, to approach from the targeted obstacle near $2010.00, which forced it to form bullish corrective rebound, to settle near $2100.00.
The bullish corrective rebound will not threaten the main bearish trend, depending on the main stability below $2210.00, besides the continuation of providing negative momentum by the main indicators, therefore, we will keep the bearish attempts in the current period, which might target 2040.00 and 2010.00 level.
The expected trading range for today is between $2010.00 and $2150.00
Trend forecast: Bearish
9
03, 2026
The GBPJPY begins to rise– Forecast today – 9-3-2026
Platinum price formed a new bearish attack with the beginning of today’s trading, to approach from the targeted obstacle near $2010.00, which forced it to form bullish corrective rebound, to settle near $2100.00.
The bullish corrective rebound will not threaten the main bearish trend, depending on the main stability below $2210.00, besides the continuation of providing negative momentum by the main indicators, therefore, we will keep the bearish attempts in the current period, which might target 2040.00 and 2010.00 level.
The expected trading range for today is between $2010.00 and $2150.00
Trend forecast: Bearish
9
03, 2026
Expects more downfall below 1.3250
The Pound Sterling is down 0.5% to near 1.3350 against the US Dollar (USD) during the European trading session on Monday. The GBP/USD pair tumbles as the US Dollar (USD) outperforms its peers, with demand for safe-haven assets remaining firm, amid war in the Middle East between the United States (US), Israel, and Iran.
US Dollar Price Today
The table below shows the percentage change of US Dollar (USD) against listed major currencies today. US Dollar was the strongest against the Euro.
| USD | EUR | GBP | JPY | CAD | AUD | NZD | CHF | |
|---|---|---|---|---|---|---|---|---|
| USD | 0.63% | 0.50% | 0.41% | -0.19% | 0.41% | 0.26% | 0.26% | |
| EUR | -0.63% | -0.13% | -0.18% | -0.81% | -0.22% | -0.36% | -0.36% | |
| GBP | -0.50% | 0.13% | -0.08% | -0.68% | -0.09% | -0.24% | -0.24% | |
| JPY | -0.41% | 0.18% | 0.08% | -0.60% | -0.01% | -0.16% | -0.16% | |
| CAD | 0.19% | 0.81% | 0.68% | 0.60% | 0.60% | 0.45% | 0.45% | |
| AUD | -0.41% | 0.22% | 0.09% | 0.00% | -0.60% | -0.14% | -0.15% | |
| NZD | -0.26% | 0.36% | 0.24% | 0.16% | -0.45% | 0.14% | 0.00% | |
| CHF | -0.26% | 0.36% | 0.24% | 0.16% | -0.45% | 0.15% | -0.01% |
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 US Dollar from the left column and move along the horizontal line to the Japanese Yen, the percentage change displayed in the box will represent USD (base)/JPY (quote).
As of writing, the US Dollar Index (DXY), which tracks the Greenback’s value against six major currencies, trades 0.5% higher to near 99.35.
The outlook of the US Dollar remains firm as the war in the Middle East could escalate further, following the announcement of Mojtaba Khamenei as Iran’s new Supreme Leader. US President Donald Trump said last week that the choice for Iran’s new supreme leader would be “unacceptable”, and he intends to pick a new one for them.
On the macroeconomic front, investors await the US Consumer Price Index (CPI) data for February, which will be released on Wednesday. In the United Kingdom (UK), investors will focus on the monthly Gross Domestic Product (GDP) and the factory data for January, which is scheduled on Friday.
GBP/USD technical analysis
GBP/USD trades sharply lower at around 1.3350 as of writing. The near-term bias is bearish as spot holds below the 20-day exponential moving average, which is around 1.3466 and capping rebounds.
The 14-day Relative Strength Index (RSI) slides to near 35.00, confirming a downside momentum after failing to sustain earlier recoveries, keeping sellers in control while the pair trades beneath the recent cluster of short-term averages.
Initial resistance emerges at the 20-day EMA, followed by the 38.2% Fibonacci retracement at 1.3539. On the downside, immediate support sits near the March 3 low of 1.3254, and a clear break below this area would expose the next bearish objective toward 1.3190, the 78.6% retracement, as the broader corrective phase deepens.
(The technical analysis of this story was written with the help of an AI tool.)
Pound Sterling FAQs
The Pound Sterling (GBP) is the oldest currency in the world (886 AD) and the official currency of the United Kingdom. It is the fourth most traded unit for foreign exchange (FX) in the world, accounting for 12% of all transactions, averaging $630 billion a day, according to 2022 data.
Its key trading pairs are GBP/USD, also known as ‘Cable’, which accounts for 11% of FX, GBP/JPY, or the ‘Dragon’ as it is known by traders (3%), and EUR/GBP (2%). The Pound Sterling is issued by the Bank of England (BoE).
The single most important factor influencing the value of the Pound Sterling is monetary policy decided by the Bank of England. The BoE bases its decisions on whether it has achieved its primary goal of “price stability” – a steady inflation rate of around 2%. Its primary tool for achieving this is the adjustment of interest rates.
When inflation is too high, the BoE will try to rein it in by raising interest rates, making it more expensive for people and businesses to access credit. This is generally positive for GBP, as higher interest rates make the UK a more attractive place for global investors to park their money.
When inflation falls too low it is a sign economic growth is slowing. In this scenario, the BoE will consider lowering interest rates to cheapen credit so businesses will borrow more to invest in growth-generating projects.
Data releases gauge the health of the economy and can impact the value of the Pound Sterling. Indicators such as GDP, Manufacturing and Services PMIs, and employment can all influence the direction of the GBP.
A strong economy is good for Sterling. Not only does it attract more foreign investment but it may encourage the BoE to put up interest rates, which will directly strengthen GBP. Otherwise, if economic data is weak, the Pound Sterling is likely to fall.
Another significant data release for the Pound Sterling is the Trade Balance. This indicator measures the difference between what a country earns from its exports and what it spends on imports over a given period.
If a country produces highly sought-after exports, its currency will benefit purely from the extra demand created from foreign buyers seeking to purchase these goods. Therefore, a positive net Trade Balance strengthens a currency and vice versa for a negative balance.
9
03, 2026
Platinum price rebounds from the barrier– Forecast today – 9-3-2026
Platinum price formed a new bearish attack with the beginning of today’s trading, to approach from the targeted obstacle near $2010.00, which forced it to form bullish corrective rebound, to settle near $2100.00.
The bullish corrective rebound will not threaten the main bearish trend, depending on the main stability below $2210.00, besides the continuation of providing negative momentum by the main indicators, therefore, we will keep the bearish attempts in the current period, which might target 2040.00 and 2010.00 level.
The expected trading range for today is between $2010.00 and $2150.00
Trend forecast: Bearish
9
03, 2026
Trading range breakout favors bulls amid Iran war
The USD/JPY pair scales higher for the third consecutive day and climbs to the 159.00 neighborhood, or its highest level since January 23 at the start of a new week. The Japanese Yen (JPY) continues with its underperformance as the recent surge in Crude Oil prices threatens to weaken economic growth. This, along with a broadly firmer US Dollar (USD), turns out to be another factor pushing the currency pair higher.
The joint US-Israeli campaign against Iran enters its tenth day on Monday, with no signs of an end to hostilities. Meanwhile, Iran named Ayatollah Ali Khamenei’s son, Mojtaba Khamenei, as the new Supreme Leader, signaling hardliners remain firmly in charge. US President Donald Trump said the appointment would be unacceptable and suggested the US should have a role in choosing Iran’s next supreme leader. This raises the risk of a prolonged war, which triggered a massive intraday rally of over 25% in Crude Oil prices on Monday.
Meanwhile, surging energy prices could drive up inflation and would create a classic stagflationary environment, complicating the Bank of Japan’s (BoJ) normalization efforts and weighing heavily on the JPY. The USD, on the other hand, benefits from its unmatched status as the global reserve currency. Moreover, inflation concerns dim the prospects for near‑term rate reductions by the US Federal Reserve (Fed) and remain supportive of a further rise in US Treasury bond yields. This provides an additional boost to the USD and the USD/JPY pair.
Meanwhile, spot prices have now moved closer to the levels when authorities conducted a series of rate checks earlier this year, keeping the risk of actual market intervention. This, in turn, holds back the JPY bears from placing aggressive bets and caps the upside for the USD/JPY pair. Nevertheless, the aforementioned fundamental backdrop suggests that the path of least resistance for the currency pair remains to the upside. Hence, any meaningful corrective pullback might still be seen as a buying opportunity and is more likely to remain cushioned.
Traders now look forward to Japan’s revised Q4 Gross Domestic Product (GDP) report, which will be released on Tuesday and is expected to show that the economy expanded at a faster pace of 0.3% against the preliminary reading of 0.1%. Apart from this, the latest US consumer inflation figures on Wednesday will influence the USD demand and provide a fresh impetus to the USD/JPY pair. The focus, however, will remain glued to geopolitical developments, which might continue to infuse volatility in the financial markets and drive the currency pair.
USD/JPY 4-hour chart
Technical Analysis:
The USD/JPY pair retains a mildly bullish near-term bias following a sustained breakout above a one-week-old trading range resistance near the 158.00 mark. Moreover, the Moving Average Convergence Divergence (MACD) histogram has turned marginally positive while the MACD line hovers close to the signal line just above the zero mark, hinting at improving but still moderate upside momentum. Adding to this, the Relative Strength Index around 64 stays below overbought territory, indicating buyers keep control without yet showing signs of exhaustion.
Immediate support emerges at the 158.00 trading range resistance breakpoint, with a deeper floor at 157.30 that guards the recent higher low area. A break below 157.30 would weaken the bullish bias and expose the 156.80 region as the next downside focus. On the topside, initial resistance appears at 158.90, the latest swing high, followed by 159.50, where an extension of the current move would encounter a more significant barrier. A sustained move above 158.90 would open the path toward 159.50, reinforcing the upside scenario in the 4-hour picture.
(The technical analysis of this story was written with the help of an AI tool.)
9
03, 2026
XAG/USD Faces Critical Test As Bears Target Pivotal $80.00 Support Level
9
03, 2026
Forecast update for gold -02-03-2026.
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
Trend forecast: Bullish
8
03, 2026
Oil Price Forecast: Crude Above $90 as Middle East Conflict Escalates — Is $150 Oil Next?
Forced Production Cuts Across the Gulf
According to Wall Street Journal, the United Arab Emirates and Kuwait had begun to curb oil production as the closure of the Strait of Hormuz affects the flow of supplies and fills storage facilities. Abu Dhabi National Oil Co. said it is managing offshore production levels to deal with storage requirements. Kuwait Petroleum Corp. also cut output at oil fields and refineries after Iranian threats against safe passage through Hormuz.
Kuwait started to reduce output by some 100,000 barrels per day early Saturday. The reduction is nearly triple on Sunday. This implies that cuts may be up to around 300,000 barrels per day or higher depending on storage levels and the situation around Hormuz.
Kuwait produced about 2.57 million barrels per day in January and relies completely on the Strait of Hormuz for exports. This is a heavy dependence that makes the country vulnerable as there are not many alternative routes from where shipments can come.
The UAE is in a better position but is still facing pressure. The country produced more than 3.5 million barrels per day in January as OPEC’s third largest producer. It is able to bypass Hormuz via a 1.5 million barrel per day pipeline to Fujairah on the western coast and also take advantage of international storage facilities.
Disruptions are spreading in the region. Iraq has begun to withhold production for storage tank saturation. Saudi Arabia shut its largest refinery and Qatar closed the world’s largest liquefied natural gas export plant after drone attacks. Saudi Arabia has diversified some of its crude exports to Yanbu on the Red Sea but this route is not capable of completely replacing exports that usually pass through the Strait of Hormuz.
Inflation Risks Rise as Oil Shock Hits the Global Economy
The current supply shock is already having an impact on consumers all over the world. Asian refiners are beginning to report shortages as shipments from the Gulf slow down. When there are fewer cargoes available to the market, refiners must scale down operations or seek out other supplies. This situation makes energy more expensive not only for businesses but also for households.
Strong Economic Growth Increases Inflation Pressure
At the same time, the global economy is still showing signs of growth. This causes inflationary effect of higher oil prices to be stronger as energy demand is still firm. The ISM Manufacturing PMI is 52.4% which signifies mild expansion of industrial sector.