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Mar 02, 2026

XAU/USD chart on the weekly time frame

XAU/USD chart on the weekly time frame

Gold has recorded its seventh consecutive monthly closing price increase, despite exhibiting extremely overbought conditions across all long-term technical indicators. 

The monthly Relative Strength Index (RSI) currently stands above the 96.00 threshold, a level of overextension not observed since early 1980. 

The ongoing rally is being further propelled by heightened geopolitical tensions. 

Price action in the upcoming week will be critical in determining the medium-term trajectory: a weekly close above $5,400 would signal renewed strength and potentially pave the way for a test of all-time highs above $5,600. 

Conversely, a weekly close below $5,165 would constitute the first confirmed technical sell signal. 
In light of these dynamics, a cautious approach is warranted, and a wait-and-see strategy will be maintained until clearer directional evidence emerges.
 
EURUSD Chart on the weekly time frame

EURUSD Chart on the weekly time frame

The EUR/USD currency pair has sustained its upward trajectory within a clearly defined ascending price channel for the eighth consecutive month. 

This persistent channel formation has emerged as the most reliable technical feature in the current market landscape, given that both volume analysis and conventional technical indicators have failed to generate conclusive or confirming signals. 

The absence of corroborating evidence from these traditional analytical tools elevates the significance of the price channel as the primary framework for market assessment and trade planning. 

In light of these conditions, the appropriate trading strategy remains firmly anchored to the established channel boundaries. This approach advocates for strategic accumulation of long positions when prices approach the lower trendline support, while recommending distribution and profit-taking near the upper resistance boundary. 

Such a methodology respects the prevailing price dynamics while acknowledging the current limitations of other technical indicators in providing actionable trade signals.
 

 
USTEC chart on the weekly time frame

USTEC chart on the weekly time frame

The USTEC index maintained its lateral trading range between 24,000 and 26,200 for a fifth consecutive month. 

Trading volume in February registered significantly above its historical average, marking the first bearish volume signal as increased participation coincided with declining prices. 

Concurrently, the Relative Strength Index (RSI) exhibited negative divergence relative to price action and settled precisely at the 70 threshold.

These technical developments suggest a higher probability of bearish outcomes than bullish scenarios in the near term. 

Nevertheless, the established range-bound strategy remains appropriate until additional market signals emerge, with positions executed near resistance for short and support for buy. 

A decisive breakout beyond either range boundary would be necessary to establish the index's intermediate-term directional bias..
 

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