Forex Market Analysis: Key Movements in Major Currency Pairs and Gold on 04 March 2026

Scalping: Scalping is a trading style that focuses on profiting from tiny price movements. In this strategy, traders look for small profits in a very short time frame, and a 3 PIP move can be a target. This type of trading requires precise execution and quick decision-making.
Day Trading: Day trading is another strategy that involves monitoring short-term price movements, where traders seek to profit from minor fluctuations. Traders may use the 3 PIP target to enter or exit positions based on short-term trends.

Overview of the Forex Market on 04 March 2026

The Forex market has shown significant movements in major currency pairs and commodities, influenced by geopolitical tensions, economic data, and market sentiment. Key currency pairs such as USD/JPY, EUR/USD, and GBP/USD have experienced notable fluctuations, while gold has seen mixed reactions amidst ongoing global uncertainties.

USD/JPY Dynamics

The USD/JPY pair reached a second target at 157.60 and is currently encountering resistance in the 158.00-159.45 range. Market analysts predict potential declines towards 155.30-50 and 152.00-50 if the resistance holds. Additionally, the pair showed resilience as it briefly paused after significant gains, trading around 157.59, influenced by a stronger US dollar amid Middle East conflict concerns which could impact energy prices and inflation.

EUR/USD and GBP/USD Movements

The EUR/USD pair met its target at 1.1580 with support found at 1.1530-60, potentially prompting a rebound to 1.1725. However, the pair remains subdued near 1.1600 following HCOB PMI data and is under pressure due to escalating conflict risks, trading at its lowest since November. On the other hand, GBP/USD dipped below 1.3380, moving towards 1.3285 with further potential decline towards 1.3000 as long as it remains below the resistance zone of 1.3380-99.

Gold and Silver Market Insights

Gold achieved targets at 5249 and 5130 but faced resistance around 5225, with potential further declines towards 5065. Amidst Middle East tensions, gold rebounded 1.30% to $5,154 after a 5% drop, yet it faces challenges overcoming the new resistance at $5,193. Silver, similarly, has shown an upward trajectory according to recent data from FXStreet.