Market View: Tuesday, May 05, 2026
The US dollar strengthened on the Middle East tensions; XAUUSD is up by 0.5%; EURUSD tested the 1.16800 support; Bitcoin spiked above $81,000.
- The US dollar index gains 0.1% as Iran conducted strikes on the UAE’s infrastructure.
- XAUUSD edged up, but its further growth is capped by the fresh escalation in the Middle East.
- EURUSD rebounds and tests the 1.17000 resistance.
- Bitcoin rose to a three-month high.
Today’s focus
| US S&P Global Services PMI due at 16:45 MT time |
FX snapshot
XAUUSD
Gold searches for direction, shifting into a holding mode.
EURUSD
The pair drifted lower due to the strengthened greenback.
BTC
Bitcoin has turned into the bullish phase, having gained 4.5% in a week and 20% in a month.
| Pair | Key support | Key resistance | Bias |
| XAUUSD | 4,510 | 4,650 | Range trading |
| EURUSD | 1.16800 | 1.17700 | Sideways |
| BTC | 78,500 | 80,000 | Bullish |
Market sentiment
The market is tense because of the new Iranian attacks. It’s pure anticipation with the adequate repositioning of assets. However, the participants have to make lots of fake moves because no clear trend is obviously visible.
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