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Market Weekly Overview | March 4

Welcome to this week’s market overview, where we break down key financial events, geopolitical developments, and market trends that shape global trading dynamics. Each edition provides in-depth analysis of major assets, including gold, Bitcoin, and EURUSD, alongside critical news affecting the broader financial landscape. Whether you are a trader looking for strategic insights or an investor keeping track of macroeconomic shifts, this report delivers the essential updates you need to navigate the markets effectively. Key market news and statistics: - Trump gets angry at Zelensky, kicks him out the Oval office - Trump creates strategic cryptoreserves based on BTC and ETH - Trump to speak before Congress on March 04 - Key crypto conference awaitend on Friday, March 07 - ECB interest rate decision on Thursday, March 06, 15:15 MT Time - NFP report due on March 07, 15:30 MT Time Gold

Gold finished consolidating, leaving the range as a distribution and going lower. You could have profited short after the break of the $2918/oz threshold, following what we told you. This week, economic fundamentals are still bullish, with added uncertainty on the geopolitical front, after the Trump-Zelensky quarrel in the Oval office late on Friday. Technically, however, the metal is still set for a fall to the $2800/oz psychological level. You can wait and see, how the metal behaves. The return of the price to $2880/oz should be viewed as a signal of renewed bullish momentum. If gold manages to hold this level, a further development towards recent ATHs is possible. Consequently, it could be time for longs again. Conversely, a break below $2830/oz could be the sign of a prolonged correction to the downside. Bitcoin After touching its lowest point since November 2024, Bitcoin led the surge of the crypto-market on Sunday, March 02. It all happened due to President Donald Trump signing a historical act, aimed at the creation of a US crypto reserves, including BTC, ETH, XRP, ADA and SOL. As a result, Bitcoin rose from $79,000 to $94,000 in two days. On Monday, however, the implementation of tariffs against Mexico and Canada, as well as a hike of tariffs against China, caused the crypto pair to fall back to $83,600. The creation of a crypto reserve was one of the key promises of the US President during his election campaign. Now that the path for its creation has been set, fundamentals are strong for BTCUSD. You can wait for a retracement from the current peaks and join the renewed rally long, but be mindful of statistics, such as the NFP report, and new tariff developments, which can still push crypto down. EURUSD The 1.05330 level we marked for the Fiber continued to act as resistance, with the pair failing to go above it last week. On February 28 the Eurodollar touched its 2-week low, but yesterday, March 03, it regained ground on better than expected inflation data. The key drivers this week are still political, with many European nations strongly backing Zelensky after Trump’s public humiliation, but also economical. The ECB interest rate decision will be of key importance, with forecasts awaiting another 25 bps rate cut, a bearish sign for EURUSD. This week, much will be decided by incoming news events, with heightened volatility likely on the way. The strategy you can adopt is the same as last week. A break below 1.03445 will likely lead to a drop to 1.02235, located at the lower edge of the 4H channel. A surge above 1.05330 still can be intended as a bullish sign.

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Publication date:

2025-03-04 12:17:02 (GMT)

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