Market View: Thursday, March 5, 2026
The US dollar index is staying above 99, supported by geopolitical risks; gold is trading around the $5,170 level; EURUSD is bearish and cautious, defending the 1.16000 level; Bitcoin has surged by 10% intraday, cooling off currently near $72,300.
- The USD is moderately bullish in light of the current events. However, the market may see a short-term correction after the recent rally.
- XAUUSD has already gained 19.35% year-to-date.
- EURUSD fell to 1.15400 two days ago, marking a multi-month low.
- BTC shortly moved above $74,000 yesterday. All in all, the market remains cautious.
Today’s focus
| US Initial Jobless Claims due at 17:00 MT time |
FX snapshot
XAUUSD
Gold possesses a continuing upward movement, but its gains might be capped by the inflationary risks.
EURUSD
EURUSD is cautious as the strong US dollar and energy crisis risks in the eurozone weigh on the local currency.
BTC
The market is still deciding whether Bitcoin stays as a risk asset or behaves like a safe-haven asset.
| Pair | Key support | Key resistance | Bias |
| XAUUSD | 5,100 | 5,200 | Consolidating |
| EURUSD | 1.15650 | 1.16400 | Bearish |
| BTC | 72,000 | 74,000 | Neutral |
Market sentiment
The market is pulling back this morning after yesterday’s rally — the Asian indexes turn negative again. Crypto looks consolidated after yesterday’s strong and energetic rise. Precious metals remain in a volatile mode, but there are opportunities to trade the swings.
