Market Highlight 26/02/2026
U.S. stocks closed higher on Wednesday, extending a tech-led rally to a two-week high as optimism around AI surged again. The Dow rose 0.63%, the S&P 500 gained 0.81%, and the Nasdaq climbed 1.26%. The U.S. Dollar Index (DXY) fell 0.2% to 97.69, while EUR/USD rose 0.3% to 1.1809.
Gold prices rebounded, driven by a weakening dollar and safe-haven buying amid ongoing U.S.-Iran tensions; spot gold rose 0.4% to $5,170.64 per ounce. Oil prices closed slightly lower yesterday as U.S. EIA crude inventories rose far more than expected, and markets remained in a “wait-and-see” mode regarding the new round of U.S.-Iran talks. However, sources revealed that OPEC+ may consider increasing crude production by 137,000 barrels per day in April, potentially ending a three-month pause in production hikes.
Key Outlook 26/02/2026
The U.S. and Iran are scheduled to resume negotiations in Geneva this Thursday. Markets are closely monitoring developments for their impact on crude oil prices and broader risk sentiment.
On the data front, keep an eye on the Eurozone February Economic Sentiment Indicator, expected to improve for the second consecutive month to 99.8 (up from 99.4). In the evening, the U.S. will release Initial Jobless Claims, forecast to rebound to 215,000 (from 206,000), further signaling current fragility in the labor market.
Key Data and Events Today:
- TBD: US and Iran to hold indirect negotiations ***
- 16:00: ECB President Christine Lagarde delivers a speech ***
- 18:00 EU Economic Sentiment FEB **
- 21:30 US Initial Jobless Claims ***
Tomorrow:
- 07:30 JP Core CPI YoY FEB **
- 16:55 EU GERMANY Unemployment Rate FEB **
- 21:00 EU GERMANY CPI MoM Prel FEB **
- 21:30 US PPI YoY JAN **
- 21:30 CA GDP MoM DEC **
- 23:00 US Construction Spending DEC **
Markets Analysis 26/02/2026
- Resistance: 1.1857/1.1879
- Support: 1.1786/1.1764
EURUSD rose 0.3% to 1.1806 as traders weighed U.S. tariffs against the ECB’s steady 2026 outlook. The 4H chart shows price oscillating between the 1.1764 support and the 1.1857 resistance zones, currently eyeing the 0.5 Fibonacci level.
- Resistance: 1.3606/1.3639
- Support: 1.3500/1.3466
GBPUSD rose 0.42% to 1.3600 as cooling UK inflation boosted rate-cut bets. The 4H chart shows price recovering toward the 1.3606 – 1.3639 resistance zone, supported by a rising channel above 1.3466.
- Resistance: 156.35/157.02
- Support: 155.54/154.88
USDJPY hit a two-week low of 156.44 after dovish BoJ appointments and Prime Minister Takaichi’s cautious stance on rate hikes. The 4H chart shows USD/JPY testing the 156.35–157.02 resistance zone. Potential pullbacks may find support between 154.88 and 155.54.
- Resistance: 66.65/67.28
- Support: 64.57/63.93
WTI fell to $65.42 after U.S. stocks surged by 16 million barrels, though Mideast tensions limited the decline. Technically, crude is consolidating above the $63.93 – $64.57 support zone. Upside resistance is at $66.65 – $67.28, with price action currently hovering near the $65.20 support level, at the 0.382 Fibonacci level.
- Resistance: 5261/5310
- Support: 5092/5027
- Resistance: 92.21/95.46
- Support: 84.81/81.50
Gold climbed towards $5,175 amid safe-haven demand, U.S. tariff-related inflation, and geopolitical tensions. Technically, price remains within an ascending channel, with support at $5,027 – $5,092. A decisive break above the $5,261 resistance zone could pave the way for a move towards the $5,310 level.
- Resistance: 49716/50020
- Support: 49224/48978
The Dow rose 0.63% to a two-week high as AI-related fears eased, with renewed optimism lifting blue-chip stocks and broader gains. Technically, the index is trading above the 48,978 – 49,224 support zone and testing the primary 49,716 – 50,020 resistance range.
- Resistance: 25698/25903
- Support: 25070/24812
NAS100 rose 1.26%, driven by Nvidia’s stellar earnings and a broad semiconductor rally, which offset declines in the software sector. Technically, the index is testing the 25,698-25,903 resistance zone within an ascending channel, with primary support between 24,812 and 25,070.
- Resistance: 70937/71910
- Support: 65752/64527
Bitcoin surged above $68,000 following Nvidia’s earnings and Wall Street’s rebound. Technically, BTC may test the nearest resistance at $70,937, with potential consolidation expected between the $64,527 support and $71,910 supply zones.
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