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Elliott Management, the activist investment firm led by Paul Singer, has raised concerns regarding the cryptocurrency market, suggesting that it may be on the brink of an “inevitable collapse.” In a recent investor letter reported by Fortune, the firm attributed the inflation of this so-called “crypto bubble” to the perceived endorsement from the White House, particularly during President Donald Trump’s administration. Impending Crypto Collapse Ahead? The letter articulated fears that the US government’s backing of cryptocurrencies could undermine the dollar’s position as the world’s primary reserve currency. Elliott Management highlighted that the dramatic rise in crypto prices, allegedly tied with Trump’s promotion of digital assets, poses risks not only to individual investors but also to the broader economy. The firm warned that the impending collapse of the alleged crypto bubble could have unforeseen repercussions, potentially destabilizing financial markets. Elliott’s letter pointed to what they call “speculative nature” of the current crypto market, where a surge of investment appears to be driven more by hype than by intrinsic value. The firm noted it had “never seen a market like this,” where investors are drawn to assets, particularly memecoins, that lack substantial backing. They assert that this “speculative fervor,” likened to the behavior of sports bettors, has attracted a wave of new investors hoping for continued price increases without a solid foundation. Concerns Mount Over US Dollar’s Future Elliott expressed particular concern about Trump’s vocal support during his campaign and his involvement in several crypto-related ventures have contributed to a perception of legitimacy surrounding the sector. Trump and his sons have been increasingly leaped into the digital asset sector with ventures such as World Liberty Financial (WLFI), American Bitcoin (ABTC) and the launch of the President’s official memecoin, TRUMP, which have sparked considerable criticism among Democrats. Elliott cautioned that such endorsements could marginalize the dollar, which the firm described as “profoundly dangerous.” The establishment of a national reserve for digital assets, as proposed by the Trump administration, further complicates this scenario, potentially diluting the dollar’s influence in the global economy. The letter also stressed the need for caution among investors, warning that many are placing their bets on a volatile market based on “speculative trends rather than sound financial principles.” Despite the firm’s stark warning, cryptocurrency prices rebounded on Wednesday. The leading cryptocurrency, Bitcoin (BTC), was trading at $113,450 when writing, after consolidating for days between $110,000 and $112,000. Furthermore, the recent passage of the GENIUS Act—the first crypto bill signed by President Trump—is expected to enhance the use of the US dollar as a complement to stablecoins, thereby updating the broader financial system. Wall Street giants Morgan Stanley, Citi, Bank of America, and JPMorgan Chase have all also expressed their willingness to enter the sector. This highlights the administration’s progress in developing a new framework that could mitigate risks while accelerating the adoption of digital assets. Featured image from DALL-E, chart from TradingView.com

The S&P 500 achieved its 23rd record high of 2025, fueled by Oracle's stunning performance and an unexpected drop in US producer prices in August. The odds of aggressive monetary easing from the Federal Reserve have increased, helping US equities sustain their stellar run. US equity index performance Oracle shares surged 36% in a single day, highlighting the company's best session since 1992 and a remarkable move for a 48-year-old tech giant. This leap added $247 billion to Oracle's market value, propelling it to become the 10th-largest S&P 500 constituent by market capitalization, surpassing JP Morgan. Market chatter is already likening Oracle to the next NVIDIA, as investors are dazzled by its results. In the second quarter, Oracle's contract revenue soared to $455 billion, more than double the previous year's figure. More eye-catching was Oracle's statement that it has massive multi-billion-dollar deals in the pipeline that could push this number even higher. Notably, the company inked a $300 billion agreement with OpenAI. There was additional good news as US producer prices fell on a monthly basis in August, suggesting companies are absorbing White House tariffs rather than passing them on to consumers. Following the report, Donald Trump declared there is "no inflation" in the US and urged the Fed to cut rates as soon as possible. Expectations for renewed monetary expansion are pushing the S&P 500 higher. US inflation dynamics It is no surprise optimism is building. Deutsche Bank raised its year-end target for the S&P 500 to 7,000, citing a weaker dollar, better-than-expected economic growth, favorable positioning, and an assessment that half the impact of tariffs has already fed into inflation. Seaport Research Partners sees the S&P 500 reaching 6,700 by the end of 2025 and 7,300 by year-end 2026, on the back of continued US leadership in artificial intelligence. Wells Fargo predicts the broad index will rise another 11% next year. As long as AI-related capital expenditures continue to rise, equities should maintain their upward momentum. A potent combination of Fed rate cut expectations and AI innovation continues to drive the S&P 500 to new all-time highs. While the US has lost its singular edge in economic growth, it remains unrivaled in other domains. At the same time, declining inflation has reduced the threat of stagflation, long a concern for the broader index. With those fears receding, the market is free to rally. From a technical point of view, on the daily chart, the S&P 500 has come within striking distance of the first two previously cited upside targets—6,565 and 6,700. The sensible approach remains to keep buying on dips. The material has been provided by InstaForex Company - www.instaforex.com

The recent movement of the USD/JPY has been very choppy as it continues to trade within a four-month-plus “Ascending Wedge” range configuration since its 22 April 2025 low of 139.89. The initial 0.8% intraday rally of the US dollar against the Japanese yen at the start of this week’s Asia session on Monday, 8 September 2025, to hit an intraday high of 148,58 has evaporated as the USD/JPY is now trading almost unchanged week-to-date as of Thursday, 11 September, at 147.40. Market participants have largely looked beyond the political uncertainty stemming from Prime Minister Ishiba’s resignation, shifting their focus to factors that could shape the Bank of Japan’s ongoing monetary policy normalization path. Let’s examine these fundamental factors. Japan’s PPI is still evolving in an upward trend, a leading indicator of core-core CPI Fig. 1: Japan PPI & core-core CPI as of Aug 2025 (Source: TradingView) One of the key economic indicators that the BoJ monitors to formulate its monetary policy decision is Japan’s nationwide core-core CPI inflation trend (excluding fresh and energy). Interestingly, the trend of Japan’s producers’ price index (PPI), a gauge that measures companies’ input costs, has a lead time ahead of the core-core CPI. Based on past data, Japan’s PPI bottomed out and reversed upwards ahead of Japan’s core-core CPI inflation in August 2009, June 2016, May 2020, and most recently December 2023. The latest print of Japan’s PPI has started to firm up after a slowdown in growth of 4.3% y/y in March 2025. The PPI rose 2.7% y/y in August 2025, accelerating from 2.5% y/y in the previous month of July (see Fig. 1). Hence, a continuation of an upward growth trend in Japan’s PPI is likely to have a trickle-down effect on the core CPI inflation trend to allow it to trend higher above the BoJ’s long-term inflation target of 2%, in support of a continuation of the BoJ’s gradual interest rate hikes in place since March 2024. Overall, a supporting fundamental element that can assert upside pressure on the Japanese yen. Narrowing of the longer-term yield spread between US Treasury bonds and JGBs Fig. 2: 10-year and 2-year yield spreads of US Treasuries and JGBs as of 11 Sep 2025 (Source: TradingView) The 10-year sovereign bond yield of a country often serves as a key gauge of its long-term inflation outlook and economic growth prospects. A relative comparison of these expectations between two countries can be captured through the 10-year yield spread of their sovereign bonds. For instance, the yield spread between the 10-year US Treasury and the Japanese Government Bond (JGB) has been narrowing since October 2025, falling from 4.15% to the current level of 2.48%, just above a critical support at 2.47% (see Fig. 2). This narrowing suggests that US Treasuries have become relatively less attractive versus JGBs, reducing the yield premium in favour of the dollar. As a result, this dynamic may exert downside pressure on USD/JPY. Let’s now examine the USD/JPY from a technical analysis perspective to determine its short-term (1 to 3 days) trend bias and key levels to watch. Fig. 3: USD/JPY minor trend as of 11 Sep 2025 (Source: TradingView) Fig. 4: USD/JPY medium-term trend as of 11 Sep 2025 (Source: TradingView) Preferred trend bias (1-3 days) Potential push down towards minor range support of 146.70/146.40 in place since 5 August 2025, with key short-term pivotal resistance at 148.75/148.95 (see Fig. 3). A break below 146.40 may trigger a further drop to test the medium-term “Ascending Wedge” range support of 145.95. Key elements The USD/JPY is stuck inside a medium-term “Ascending Wedge” range configuration in place since the 22 April 2025 low. The upper boundary/resistance of the range stands at 149.90, and the lower boundary/support of the range rests at 145.95 (see Fig. 4).The hourly RSI momentum has ticked up higher to 66, which is coming close to its overbought region (above 70), which suggests a potential imminent mean reversion downside movement for the USD/JPY within its range configuration.The USD/JPY is still trading below its key 200-day moving average, which is acting as a resistance at 148.75.Alternative trend bias (1 to 3 days) A clearance above 148.95 invalidates the bearish scenario for the USD/JPY and sees a squeeze up towards the key medium-term resistance of 149.70/149.90 (the upper boundary of the “Ascending Wedge”). Opinions are the authors'; not necessarily that of OANDA Business Information & Services, Inc. or any of its affiliates, subsidiaries, officers or directors. The provided publication is for informational and educational purposes only. If you would like to reproduce or redistribute any of the content found on MarketPulse, an award winning forex, commodities and global indices analysis and news site service produced by OANDA Business Information & Services, Inc., please refer to the MarketPulse Terms of Use. Visit https://www.marketpulse.com/ to find out more about the beat of the global markets. © 2025 OANDA Business Information & Services Inc.

Yesterday, US stock indices closed mixed. The S&P 500 rose by 0.30%, while the Nasdaq 100 added 0.03%. The industrial Dow Jones fell by 0.48%. Futures on US and European equities showed stability ahead of the highly anticipated US inflation data, due today, while the Asian session was marked by gains in technology giants. Euro Stoxx 50 futures were little changed, while S&P 500 and Nasdaq 100 futures pared losses during Asian trading. Japan, South Korea, and mainland China's major stock indices advanced, while Australian and Hong Kong indices declined. The MSCI Asia-Pacific regional index was flat after five straight days of gains. US Treasuries stabilized after broad-based curve gains on Wednesday. The US dollar index was little changed, and the yen held steady against the greenback. Yesterday's report showed that US producer prices unexpectedly fell in August for the first time in four months. This eased concerns that high inflation would create difficulties for policymakers trying to prevent labor market weakness ahead of today's US inflation release, due in the afternoon. The decline in producer prices is undoubtedly a positive signal for the economy, pointing to potential easing of inflationary pressure. However, it is important to note that this is only one indicator, and drawing final conclusions about long-term trends is premature. The market is closely watching today's inflation release to gain a fuller picture of the current economic situation. It is worth noting that the decline in producer prices may be driven by various factors, including lower energy prices, slower consumer demand growth, or improvements in supply chains. A detailed analysis of these elements will allow for a more accurate assessment of the reasons behind the drop and its potential impact on the economy as a whole. In the context of Federal Reserve policy, weaker inflationary pressure may give policymakers more room to maneuver when making decisions on interest rates. Today also brings a meeting of the European regulator, where the bank is expected to keep interest rates unchanged. As for commodities, gold prices edged lower after gains in the previous session, while oil prices also dipped slightly after three days of increases, as investors weighed Trump's next steps to pressure Russia, raising concerns over crude supply. As for the technical picture of the S&P 500, the main task for buyers today will be to break through the nearest resistance level of $6,537. This would allow for further upside and open the way toward the next level at $6,552. An equally important objective for bulls will be to keep control over the $6,563 mark, which would strengthen buyers' positions. In case of a downside move amid weakening risk appetite, buyers will need to step in around $6,520. A breakout below this level would quickly push the instrument back to $6,505 and open the road toward $6,490. The material has been provided by InstaForex Company - www.instaforex.com

Trade Review and Advice on Trading the Japanese YenA test of the 147.32 price level coincided with the MACD indicator just starting to move down from the zero line—a good confirmation to sell the dollar. However, this did not lead to a significant drop in the pair. The yen reacted with only a minor gain against the US dollar after news that US producer prices in August declined, not increased. This restrained reaction reflects a mix of factors, including ongoing concerns about Japan's economic outlook and the Bank of Japan's monetary policy. Despite dollar weakness from US data, investors remain cautious about the yen, given its sensitivity to global economic swings—weak domestic demand, an aging population, and export dependency leave the Japanese currency vulnerable to external shocks. Today's strong BSI large manufacturers business conditions index data out of Japan did not impact the currency market at all. Moreover, the yen unexpectedly ignored such a positive signal of improving sentiment in a key sector. This anomaly highlights the complexity and contradictions currently shaping the market. As for the intraday strategy, I will focus more on implementing scenarios #1 and #2. Buy ScenarioScenario #1: Plan to buy USD/JPY today at the entry area around 147.59 (green line on the chart), targeting a rise to 148.02 (thicker green line on the chart). Around 148.02, I'll exit longs and open a short for a move of 30–35 pips back. It's best to return to buying the pair on corrections or deep pullbacks in USD/JPY. Important: Before buying, make sure MACD is above zero and just starting to rise from there.Scenario #2: Buy USD/JPY if there are two consecutive tests of the 147.38 level while MACD is in the oversold zone. This should limit downside and prompt a reversal, targeting 147.59 and 148.02.Sell ScenarioScenario #1: Plan to sell USD/JPY today only after a break below 147.38 (red line on the chart), which should trigger a rapid slide. The key downside target is 146.94, where I'll exit shorts and immediately look to buy for a 20–25 pip rebound. The higher the sell entry, the better. Important: Before selling, ensure the MACD is below zero and is just starting to fall.Scenario #2: Also plan to sell USD/JPY if there are two consecutive tests of 147.59 while MACD is in the overbought area. This will cap the upside and may prompt a reversal down to 147.38 and 146.94. What's on the Chart:Thin green line – entry price at which the instrument can be bought. Thick green line – suggested price for taking profit or manually securing profits, as further growth above this level is unlikely. Thin red line – entry price at which the instrument can be sold. Thick red line – suggested price for taking profit or manually securing profits, as further decline below this level is unlikely. MACD indicator: When entering the market, it is important to refer to overbought and oversold areas. Important. Beginner forex traders should exercise extreme caution when making entry decisions. Before important fundamental reports, it is best to stay out of the market to avoid sharp price swings. If you decide to trade during the release of news, always use stop-loss orders to minimize losses. Without stop-losses, you can quickly lose your entire deposit, especially if you don't use money management and trade large volumes. And remember: for successful trading, you need a clear trading plan, as I described above. Making spontaneous trading decisions based on the current market situation from moment to moment is a losing strategy for an intraday trader. The material has been provided by InstaForex Company - www.instaforex.com

Trade Review and Advice on Trading the British PoundA test of the 1.3545 price level coincided with the MACD indicator just starting its move up from the zero line, confirming a good buy entry in GBP. However, the pair never developed a significant upward move. The sharp 0.1% drop in US producer prices in August led to a dollar decline and a strengthening of the British pound. Still, a major bullish run did not materialize. First, the PPI drop was a one-off event, shifting the focus to today's US Consumer Price Index figures. Second, ongoing uncertainty over the British economy continued to weigh on sterling. There are no UK data releases today, so most of the market movement will come after the US numbers are published. Until then, the pair may continue trading within yesterday's sideways channel. Intraday traders should diligently monitor news feeds, including not only economic, but also political and social events that may affect investor sentiment. While waiting for the US data release, a range-trading strategy seems reasonable, but remember the importance of stop-loss and take-profit orders—and prompt position adjustments as new information comes in. As for the intraday strategy, I will focus more on implementing scenarios #1 and #2. Buy ScenarioScenario #1: Plan to buy GBP today at the entry area around 1.3531 (green line on the chart), targeting a rise to 1.3553 (thicker green line on the chart). Around 1.3553, I'll exit my longs and open a short for a move of 30–35 pips back in the opposite direction. A strong rally for GBP today is unlikely. Important: Before buying, make sure the MACD is above zero and just starting to rise from it.Scenario #2: Also plan to buy GBP if there are two consecutive tests of the 1.3518 level with the MACD indicator in the oversold area. This should limit the downside and lead to a reversal, targeting 1.3531 and 1.3553.Sell ScenarioScenario #1: Plan to sell GBP today after a break below 1.3518 (red line on the chart), which should trigger a quick drop. The key target for sellers will be 1.3495, where I'll exit shorts and immediately look to buy for a 20–25 pip rebound. GBP sellers could become active at any time today. Important: Before selling, ensure the MACD is below zero and is just starting to fall.Scenario #2: Also plan to sell GBP if there are two consecutive tests of 1.3531 with the MACD in the overbought zone. This should cap the upside and prompt a reversal down, targeting 1.3518 and 1.3495. What's on the Chart:Thin green line – entry price at which the instrument can be bought. Thick green line – suggested price for taking profit or manually securing profits, as further growth above this level is unlikely. Thin red line – entry price at which the instrument can be sold. Thick red line – suggested price for taking profit or manually securing profits, as further decline below this level is unlikely. MACD indicator: When entering the market, it is important to refer to overbought and oversold areas. Important. Beginner forex traders should exercise extreme caution when making entry decisions. Before important fundamental reports, it is best to stay out of the market to avoid sharp price swings. If you decide to trade during the release of news, always use stop-loss orders to minimize losses. Without stop-losses, you can quickly lose your entire deposit, especially if you don't use money management and trade large volumes. And remember: for successful trading, you need a clear trading plan, as I described above. Making spontaneous trading decisions based on the current market situation from moment to moment is a losing strategy for an intraday trader. The material has been provided by InstaForex Company - www.instaforex.com

Trade Review and Advice on Trading the EuroA test of the 1.1718 level coincided with the MACD indicator just starting to rise above the zero mark, which confirmed this as a valid long entry in EUR and resulted in only a 10-pip upward move. The 0.1% decline in the US Producer Price Index for August triggered a weakening of the dollar and, consequently, a strengthening of the euro. This development came as a surprise to many and forced analysts to reconsider their outlook on the Fed's future monetary policy. However, a major risk asset rally did not materialize—indicating that FX markets remain volatile and uncertain. Market participants are closely watching economic releases from both the US and Europe, trying to anticipate the next moves by central banks. Today, the ECB will release its key interest rate decision and monetary policy statement in the first half of the day. Shortly after, ECB President Christine Lagarde will hold a press conference. Although rates are expected to remain unchanged, the market's focus will be on any signals and commentary from Lagarde, which could hint at the central bank's future policy path. Investors will scrutinize Lagarde's rhetoric for clues about the ECB's inflation outlook and especially any updates due to the repercussions of Trump's trade policy; such comments may indicate the ECB's readiness (or lack thereof) to act quickly. The ECB's opinion on the current state of the European economy and risks related to geopolitics, the energy crisis, or supply chain disruptions will also be in focus. Emphasizing these risks could signal a more cautious approach to policy, while optimism would point to more resilience. Finally, market participants will be watching the monetary policy report details, especially any insight into future ECB plans. As for the intraday strategy, I will focus more on implementing scenarios #1 and #2. Buy ScenarioScenario #1: Buy the euro today on a move to the 1.1707 area (green line on the chart), targeting growth to 1.1728. Exit at 1.1728 and look to sell on a reversal for a 30–35 pip retracement from the entry point. Only consider long trades after strong data! Important: Before buying, make sure MACD is above zero and just starting to rise from that level.Scenario #2: Also buy the euro if there are two consecutive tests of the 1.1690 area with MACD in the oversold zone. This should limit downside potential and could prompt a reversal to the upside, with targets at 1.1707 and 1.1728.Sell ScenarioScenario #1: Plan to sell the euro after a move to 1.1690 (red line on the chart), targeting a drop to 1.1664. Exit at 1.1664 and immediately look for a buy on a reversal for a 20–25 pip retracement. Selling pressure is likely to return today if data disappoints. Important: Before selling, ensure the MACD is below zero and starting to decline.Scenario #2: Also plan to sell the euro if there are two consecutive tests of 1.1707 with MACD in the overbought zone. This should cap upside potential and may provoke a reversal down, with targets at 1.1690 and 1.1664. What's on the Chart:Thin green line – entry price at which the instrument can be bought. Thick green line – suggested price for taking profit or manually securing profits, as further growth above this level is unlikely. Thin red line – entry price at which the instrument can be sold. Thick red line – suggested price for taking profit or manually securing profits, as further decline below this level is unlikely. MACD indicator: When entering the market, it is important to refer to overbought and oversold areas. Important. Beginner forex traders should exercise extreme caution when making entry decisions. Before important fundamental reports, it is best to stay out of the market to avoid sharp price swings. If you decide to trade during the release of news, always use stop-loss orders to minimize losses. Without stop-losses, you can quickly lose your entire deposit, especially if you don't use money management and trade large volumes. And remember: for successful trading, you need a clear trading plan, as I described above. Making spontaneous trading decisions based on the current market situation from moment to moment is a losing strategy for an intraday trader. The material has been provided by InstaForex Company - www.instaforex.com

Yesterday, Bitcoin managed to hold above the $113,000 level, which indicates a relatively high probability of further growth. Ethereum also posted a strong move upward. This growth is not surprising. According to reports from several expert firms, buying demand for BTC has surged in recent days, hitting a historic record. CryptoQuant attributes this to inflows of new investments and idle funds from institutional players. This surge in interest clearly shows Bitcoin's growing recognition as a legitimate asset class among large investment funds and corporations. Institutional investors, who are traditionally more conservative, are increasingly viewing BTC as a means of portfolio diversification and risk hedging—especially in a macro environment of uncertainty and inflationary pressure. The current dynamics also signal that Bitcoin is entering a new stage of maturity, where institutionals play a more important role. The further development of this trend will likely depend on the market's ability to adapt to new challenges and maintain sufficient transparency and safety for all participants. SoSoValue has also noted a very active surge in spot BTC ETF inflows, further confirming Bitcoin's strengthened position in the traditional financial sphere and expanding investor interest. ETFs allow for indirect investment in Bitcoin, bypassing technical challenges related to direct storage and management of cryptocurrencies. For the crypto market, I will continue to look to buy notable dips in Bitcoin and Ethereum, aiming for sustained bullish medium-term momentum. That trend remains intact. See below for the detailed short-term strategy and conditions: BitcoinBuy ScenarioScenario 1: I will buy Bitcoin today if it reaches the entry point around $114,500, targeting a rise to $115,800. Around $115,800, I'll close longs and sell immediately on a pullback. Before breakout buying, make sure the 50-day moving average is below the current price and the Awesome Oscillator is above zero.Scenario 2: Buy from the lower boundary at $113,800 if there is no significant market reaction to a downside breakout, targeting moves back toward $114,500 and $115,800.Sell ScenarioScenario 1: I will sell Bitcoin today if it reaches the $113,800 entry area, targeting a fall to $112,300. Around $112,300, I'll exit shorts and immediately buy on a rebound. For breakout sales, confirm the 50-day moving average is above the current price and the Awesome Oscillator is below zero.Scenario 2: Sell from the upper boundary at $114,500 if there is no market reaction to a breakout through this level to the upside, targeting moves back toward $113,800 and $112,300. EthereumBuy ScenarioScenario 1: I will buy Ethereum today if it reaches $4,434, targeting a rise to $4,484. Around $4,484, I'll close longs and sell immediately on a pullback. Before executing a breakout buy, ensure the 50-day moving average is below the current price and the Awesome Oscillator is above zero.Scenario 2: Buy from the lower boundary at $4,397 if there is no market reaction to a downside breakout, with targets at $4,434 and $4,484.Sell ScenarioScenario 1: I will sell Ethereum today if it reaches $4,397, targeting a drop to $4,349. Around $4,349, I'll exit shorts and buy on a pullback. For breakout sales, confirm the 50-day moving average is above the current price and the Awesome Oscillator is below zero.Scenario 2: Sell from the upper boundary at $4,434 if there is no market reaction to an upside breakout, targeting $4,397 and $4,349.The material has been provided by InstaForex Company - www.instaforex.com

[Natural Gas] – [Thursday, 11 September 2025] Although there is potential for strengthening, as long as it does not break and close above 3.052, Natural Gas will return to its bearish bias because the RSI is in the Neutral-Bearish area and both EMAs are forming a Death Cross. Key Levels 1. Resistance. 2 : 3.160 2. Resistance. 1 : 3.095 3. Pivot : 3.052 4. Support. 1 : 2.987 5. Support. 2 : 2.944 Tactical Scenario Pressure Zone: If #NG breaks down and closes below 2.987, it may test the next support at 2.944. Momentum Extension Bias: If 2.944 is broken and closed below, there is potential for further weakening towards 2.897. Invalidation Level / Bias Revision The downside bias is limited if Natural Gas suddenly strengthens, breaks, and closes above 3.160. Technical Summary EMA(50) : 3.047 EMA(200): 3.068 RSI(14) : 34.31 Economic News Release Agenda: Tonight from the United States, the following economic data will be released: US - Core CPI m/m - 19:30 WIB US - CPI m/m - 19:30 WIB US - CPI y/y - 19:30 WIB US - Unemployment Claims - 19:30 WIB US - Natural Gas Storage - 21:30 WIB The material has been provided by InstaForex Company - www.instaforex.com

[Nasdaq 100 Index] – [Thursday, 11 September 2025] Although there is a potential for correction as the RSI is at the Neutral-Bearish level, but as long as it does not break and close below 23606.5, there is still potential for a return to the bullish bias because both EMAs are still forming a Golden Cross. Key Levels 1. Resistance. 2 : 24119.9 2. Resistance. 1 : 23974.1 3. Pivot : 23863.2 4. Support. 1 : 23717.4 5. Support. 2 : 23606.5 Tactical Scenario Positive Reaction Zone: If the Nasdaq 100 Index manages to break through and close above 23,863.2, it will likely test the next resistance at 23,974.1. Momentum Extension Bias: If 23,974.1 is broken and closed above, then 24,119.9 will be the next target to be tested.Invalidation Invalidation Level / Bias Revision The upside bias weakens if #NDX corrects lower, breaks, and closes below 23606.5. Technical Summary EMA(50) : 23864.2 EMA(200): 23762.7 RSI(14) : 44.20 Economic News Release Agenda: US - Core CPI m/m - 19:30 WIB US - CPI m/m - 19:30 WIB US - CPI y/y - 19:30 WIB US - Unemployment Claims - 19:30 WIB US - Natural Gas Storage - 21:30 WIB The material has been provided by InstaForex Company - www.instaforex.com

An analyst has pointed out how Dogecoin could see a rally to $0.50, if the upper boundary of this technical analysis pattern breaks. Dogecoin Is Currently Trading Inside A Parallel Channel In a new post on X, analyst Ali Martinez has shared a technical analysis (TA) pattern forming in the 1-day price of Dogecoin. The pattern in question is a Parallel Channel, which forms when the price of an asset observes movement restricted between two parallel trendlines. The upper line of the channel is likely to provide resistance, while the lower one support. A break out of either of these boundaries can imply a continuation of trend in that direction. There are a few different types of Parallel Channels, depending on how the trendlines are arranged relative to the chart axes. When the trendlines are slopped upward, the pattern is known as an Ascending Channel. Similarly, them pointing down results in what’s called a Descending Channel. In the context of the current topic, the variant of interest is neither of these, but rather the most simple case of Parallel Channels: a channel that’s parallel to the time-axis. This type emerges when an asset observes consolidation in an exactly sideways manner. Here is the chart shared by Martinez that shows the Parallel Channel that the 1-day Dogecoin price has been trading inside for the last few months: As is visible in the above graph, Dogecoin retested the resistance line of the Parallel Channel in July, but ended up finding rejection. The midway line of the channel stabilized the asset’s drawdown and since then, the coin has been moving in a tight range in the upper half of the pattern. Currently, the memecoin’s trajectory is pointing in the direction of the upper level, which is situated at $0.29, but for now, its price remains a notable distance below it. In the scenario that another retest occurs in the near future, the outcome may be interesting to watch, as it could have implications for DOGE’s value. According to the analyst, the cryptocurrency could be looking at the $0.50 mark, if its price can break past this barrier. The target is based on the fact that Parallel Channel breakouts can be of the same length as the width of the channel. From the current price of Dogecoin, a potential bullish breakout to the level would imply a positive return of around 104%. It now remains to be seen how the memecoin develops in the near future, with respect to the Parallel Channel. DOGE Price At the time of writing, Dogecoin is trading around $0.245, up more than 12% over the last week.

Although the US dollar did lose ground against risk assets, it managed to avoid a larger sell-off. This suggests traders have already shifted their attention to waiting for new, and much more important, inflation data than what was released yesterday. A sharp decline in US producer prices in August by 0.1% led to a drop in the dollar and strengthening of the euro, British pound, and other risk assets. This unexpected turn made traders reconsider their forecasts for the Federal Reserve's future monetary policy, and now the Fed is widely expected to resume cutting interest rates soon. Today, in the first half of the day, the European Central Bank will publish its decision on the main interest rate and the monetary policy statement. A bit later, ECB President Christine Lagarde will hold a press conference. Rates are expected to remain unchanged. However, markets will watch Lagarde's language and details from the policy statement very closely in search of clues about future central bank moves. In particular, traders are keen to learn how the ECB assesses the current inflation situation in the eurozone and what its outlook on further economic growth is. Special attention will be paid to the ECB's inflation forecasts for the coming quarters and next year. If the central bank raises its inflation expectations, this may signal the complete end of the rate-cutting cycle that started in the middle of last year, helping the euro rise. If the data matches economists' expectations, it's better to operate with a Mean Reversion strategy. If the data is much higher or lower than economists expect, it's best to use a Momentum strategy. Momentum Strategy (Breakout):EUR/USDBuying on a breakout of 1.1728 could lead to euro growth toward 1.1760 and 1.1813 Selling on a breakout of 1.1695 could lead to a decline toward 1.1668 and 1.1630 GBP/USDBuying on a breakout of 1.3553 may lead to the pound growing to the area of 1.3587 and 1.3615 Selling on a breakout of 1.3520 may lead to the pound falling to the area of 1.3484 and 1.3451 USD/JPYBuying on a breakout of 147.50 could target 147.84 and 148.13 Selling on a breakout of 147.25 could lead to declines toward 146.90 and 146.60 Mean Reversion Strategy (Pullbacks): EUR/USDLook to sell after a failed breakout above 1.1708 and a return below that level Look to buy after a failed breakout below 1.1690 and a return above that level GBP/USDLook to sell after a failed breakout above 1.3536 and a pullback under that level Look to buy after a failed breakout below 1.3514 and a return above that level AUD/USDLook to sell after a failed breakout above 0.6626 and a pullback below that level Look to buy after a failed breakout below 0.6607 and a return above that level USD/CADLook to sell after a failed breakout above 1.3878 and a return below that level Look to buy after a failed breakout below 1.3859 and a return above that level The material has been provided by InstaForex Company - www.instaforex.com

Solana started a fresh increase above the $220 zone. SOL price is now consolidating above $215 and might aim for more gains above the $225 zone. SOL price started a fresh upward move above the $212 and $215 levels against the US Dollar. The price is now trading above $215 and the 100-hourly simple moving average. There is a bullish trend line forming with support at $222 on the hourly chart of the SOL/USD pair (data source from Kraken). The pair could extend gains if it clears the $225 resistance zone. Solana Price Eyes More Gains Solana price started a decent increase after it found support near the $205 zone, beating Bitcoin and Ethereum. SOL climbed above the $212 level to enter a short-term positive zone. The price even smashed the $218 resistance. The bulls were able to push the price above the $220 barrier. A high was formed at $226 and the price is consolidating gains above the 23.6% Fib retracement level of the upward move from the $199 swing low to the $226 high. Solana is now trading above $215 and the 100-hourly simple moving average. There is also a bullish trend line forming with support at $222 on the hourly chart of the SOL/USD pair. On the upside, the price is facing resistance near the $225 level. The next major resistance is near the $232 level. The main resistance could be $235. A successful close above the $235 resistance zone could set the pace for another steady increase. The next key resistance is $245. Any more gains might send the price toward the $250 level. Downside Correction In SOL? If SOL fails to rise above the $225 resistance, it could start another decline. Initial support on the downside is near the $222 zone and the trend line. The first major support is near the $212 level or the 50% Fib retracement level of the upward move from the $199 swing low to the $226 high. A break below the $212 level might send the price toward the $205 support zone. If there is a close below the $205 support, the price could decline toward the $200 support in the near term. Technical Indicators Hourly MACD – The MACD for SOL/USD is gaining pace in the bullish zone. Hourly Hours RSI (Relative Strength Index) – The RSI for SOL/USD is above the 50 level. Major Support Levels – $222 and $212. Major Resistance Levels – $225 and $235.

Macroeconomic Report Review: There are a few macroeconomic releases scheduled for Thursday. However, in the United States, an important August inflation report will be published, which could provoke a strong market reaction if it prints a surprise figure. Any value outside the 2.7–2.9% range would be considered a substantial surprise. Lower-than-expected inflation (relative to previous readings and forecasts) could trigger a dollar sell-off. Higher inflation would support the US currency. No important releases are planned today in the UK, Germany, or the Eurozone. Fundamental Events Review: Among Thursday's fundamental events, the European Central Bank meeting and Christine Lagarde's press conference stand out. However, no major decisions or statements are expected. The ECB has reduced all three key rates to neutral and has succeeded in bringing inflation down to its target level. In the near term, the ECB has no reason to change monetary policy parameters. General Conclusions:On the penultimate trading day of the week, both currency pairs could resume their upward movement, but a lot will depend on the US inflation report. Both the euro and the pound have shown illogical declines over the past two days, so today the market may try to "restore justice." For the euro, further movement depends on fresh signals, which may form in the 1.1655–1.1666 and 1.1737–1.1745 areas. The pound sterling is currently in the 1.3529–1.3543 zone, but generated numerous false signals there yesterday. Today's movements may be just as chaotic, but with increased volatility. Key Rules for the Trading System:Signal Strength: The shorter the time it takes for a signal to form (a rebound or breakout), the stronger the signal.False Signals: If two or more trades near a level result in false signals, subsequent signals from that level should be ignored.Flat Markets: In flat conditions, pairs may generate many false signals or none at all. It's better to stop trading at the first signs of a flat market.Trading Hours: Open trades between the start of the European session and the middle of the US session, then manually close all trades.MACD Signals: On the hourly timeframe, trade MACD signals only during periods of good volatility and a clear trend confirmed by trendlines or trend channels.Close Levels: If two levels are too close (5–20 pips apart), treat them as a support or resistance zone. Stop Loss: Set a Stop Loss to breakeven after the price moves 15–20 pips in the desired direction.Key Chart Elements:Support and Resistance Levels: These are target levels for opening or closing positions and can also serve as points for placing Take Profit orders. Red Lines: Channels or trendlines indicating the current trend and the preferred direction for trading. MACD Indicator (14,22,3): A histogram and signal line used as a supplementary source of trading signals. Important speeches and reports, which are consistently featured in the news calendar, can significantly influence the movement of a currency pair. Therefore, during their release, it is advisable to trade with caution or consider exiting the market to avoid potential sharp price reversals against the prior trend. Beginners in the Forex market should understand that not every transaction will be profitable. Developing a clear trading strategy and practicing effective money management are crucial for achieving long-term success in trading. The material has been provided by InstaForex Company - www.instaforex.com

Wednesday Trade Review:1H Chart of GBP/USD On Wednesday, the GBP/USD pair also traded strictly sideways with minimal volatility. There were no significant events scheduled for Wednesday, but let's recall that this week already saw the NonFarm Payrolls report and the Producer Price Index. Today, the US inflation report will be released. It also became known that the US Supreme Court reinstated Lisa Cook, whom Donald Trump fired a few weeks ago. So, the battle between Trump and the Federal Reserve continues, and the American president still cannot do anything about the FOMC's unwillingness to cut rates by 2–3% at once. Thus, the US dollar already had plenty of reasons this week to keep falling. However, the market is waiting to make its move. On the hourly timeframe, an uptrend is clearly visible, although there is no actual trendline, since there aren't two distinct extremes to draw one. 5M Chart of GBP/USD On the 5-minute chart on Wednesday, price action was such that it would have been better had there been no movement at all. EUR/USD traders had better luck, as there was not a single trading signal throughout the day. With GBP/USD, traders were less fortunate. The price hovered around the 1.3529–1.3543 area all day, generating one false signal after another and simply ignoring the specified levels. Novice traders might have tried to trade on the early signals, but by the US session, it was clear that there would be no decent movements. How to Trade on Thursday:On the hourly timeframe, GBP/USD is showing signs of resuming an uptrend, and on higher timeframes, the upward trend persists. As we have said, there's no reason to expect a medium-term rally in the dollar, so we expect further growth in the British currency. On Thursday, GBP/USD may resume its northward advance, as Tuesday and Wednesday were marked by illogical movement. It's probably not worth trading around the 1.3529–1.3543 area today, since yesterday produced a slew of false signals there. Today brings several important events, so sharp reversals and increased volatility are possible at any time. On the 5-minute chart, you can now trade around the levels: 1.3102–1.3107, 1.3203–1.3211, 1.3259, 1.3329–1.3331, 1.3413–1.3421, 1.3466–1.3475, 1.3529–1.3543, 1.3574–1.3590, 1.3643–1.3652, 1.3682, 1.3763. No important UK events or reports are scheduled for Thursday, but in the US, an important inflation report will be released. Also, traders may be more active during the day thanks to the ECB meeting in the Eurozone. Core Trading System Rules:Signal Strength: The shorter the time it takes for a signal to form (a rebound or breakout), the stronger the signal.False Signals: If two or more trades near a level result in false signals, subsequent signals from that level should be ignored.Flat Markets: In flat conditions, pairs may generate many false signals or none at all. It's better to stop trading at the first signs of a flat market.Trading Hours: Open trades between the start of the European session and the middle of the US session, then manually close all trades.MACD Signals: On the hourly timeframe, trade MACD signals only during periods of good volatility and a clear trend confirmed by trendlines or trend channels.Close Levels: If two levels are too close (5–20 pips apart), treat them as a support or resistance zone.Stop Loss: Set a Stop Loss to breakeven after the price moves 20 pips in the desired direction.Key Chart Elements:Support and Resistance Levels: These are target levels for opening or closing positions and can also serve as points for placing Take Profit orders. Red Lines: Channels or trendlines indicating the current trend and the preferred direction for trading. MACD Indicator (14,22,3): A histogram and signal line used as a supplementary source of trading signals. Important Events and Reports: Found in the economic calendar, these can heavily influence price movements. Exercise caution or exit the market during their release to avoid sharp reversals. Forex trading beginners should remember that not every trade will be profitable. Developing a clear strategy and practicing proper money management are essential for long-term trading success. The material has been provided by InstaForex Company - www.instaforex.com

Wednesday Trade Review:1H Chart of EUR/USD On Wednesday, the EUR/USD currency pair traded with minimal volatility and without any trend. This is now the second day in a row this week that the market has shown completely illogical movements. We'll leave aside what's happening in the crypto market—there's little logic there either. Recall that on Tuesday, the annual Nonfarm Payrolls report was published. Although it didn't reveal anything new—US labor market contraction continues—it remains an important report that traders ignored. Yesterday, the US Producer Price Index (PPI) showed a price decline of 0.1% in August. We don't believe this drop in PPI will have any impact on the Federal Reserve's September decision; in any case, a more important inflation report will be released today, on which more definite conclusions can be based. Nevertheless, a formal reason for dollar weakness existed yesterday. The uptrend on the hourly timeframe remains in place, as shown by the ascending trend line. Therefore, the pair's rally could resume at any moment. 5M Chart of EUR/USD On the 5-minute timeframe on Wednesday, not a single trading signal was formed, which is a good thing. As seen in the chart above, the price bounced up and down all day, with total daily volatility under 50 pips. With such moves, it was clearly best to stay out of the market. How to Trade on Thursday:On the hourly timeframe, the EUR/USD pair has every chance to resume the uptrend that's been forming since the start of the year. The range-bound flat can be considered complete. The fundamental and macro background remains negative for the US dollar, so we still do not expect USD strength. In our opinion, as before, the dollar can only count on technical corrections. However, consolidation below the trend line could trigger a new wave of technical decline for the pair. On Thursday, EUR/USD may resume its upward move, as the trend remains bullish. However, new trading signals are needed in the areas of 1.1655–1.1666 and 1.1737–1.1745. On the 5-minute timeframe, watch the following levels: 1.1198–1.1218, 1.1267–1.1292, 1.1354–1.1363, 1.1413, 1.1455–1.1474, 1.1527, 1.1571–1.1584, 1.1655–1.1666, 1.1737–1.1745, 1.1808, 1.1851, 1.1908. On Thursday, the European Central Bank meeting will occur in the Eurozone, and the US inflation report will be published. Both are important events, but only formally so. No one expects a rate cut or even a promise to cut from the ECB at this point. US inflation won't affect the Fed's decision on September 17. However, both events could still trigger market reaction. Core Trading System Rules:Signal Strength: The shorter the time it takes for a signal to form (a rebound or breakout), the stronger the signal.False Signals: If two or more trades near a level result in false signals, subsequent signals from that level should be ignored.Flat Markets: In flat conditions, pairs may generate many false signals or none at all. It's better to stop trading at the first signs of a flat market.Trading Hours: Open trades between the start of the European session and the middle of the US session, then manually close all trades.MACD Signals: On the hourly timeframe, trade MACD signals only during periods of good volatility and a clear trend confirmed by trendlines or trend channels.Close Levels: If two levels are too close (5–20 pips apart), treat them as a support or resistance zone.Stop Loss: Set a Stop Loss to breakeven after the price moves 15 pips in the desired direction.Key Chart Elements:Support and Resistance Levels: These are target levels for opening or closing positions and can also serve as points for placing Take Profit orders. Red Lines: Channels or trendlines indicating the current trend and the preferred direction for trading. MACD Indicator (14,22,3): A histogram and signal line used as a supplementary source of trading signals. Important Events and Reports: Found in the economic calendar, these can heavily influence price movements. Exercise caution or exit the market during their release to avoid sharp reversals. Forex trading beginners should remember that not every trade will be profitable. Developing a clear strategy and practicing proper money management are essential for long-term trading success. The material has been provided by InstaForex Company - www.instaforex.com

As Solana (SOL) taps the $225 barrier, Bitwise’s CIO forecasted that a bullish Q4 rally might be brewing for the altcoin if it follows Bitcoin (BTC) and Ethereum’s (ETH) recipe. Solana To Follow BTC, ETH’s Recipe? On Tuesday, Matt Hougan, CIO at Bitwise, affirmed in a new memo to clients that the recipe for strong returns has been clear over the past 18 months: “Take one part ETP inflows, add strong corporate treasury purchases, and voilà—you get big returns.” Hougan explained that BTC followed this recipe since January 2024, while ETH discovered the same formula in April 2025. “It’s no surprise that the recipe works. It’s classic supply and demand,” he stated, adding that “all the ingredients are there for an epic end-of-year run for Solana.” As the CIO highlighted, multiple issuers, including Bitwise, Grayscale, and VanEck, have filed to launch spot SOL exchange-traded products (ETPs), which are expected to be approved at the start of Q4. As reported by NewsBTC, the US Securities and Exchange Commission (SEC) announced last month that it had pushed back its decision on Bitwise, 21Shares, VanEck, Grayscale, and Canary Capital’s spot SOL exchange-traded funds (ETFs) for two months, pushing it to October 16, 2025, “meaning we may have multiple issuers pushing spot Solana ETPs in Q4.” Meanwhile, three major firms, Galaxy Digital, Jump Crypto, and Multicoin Capital, recently secured $1.65 billion in cash and stablecoins to launch a publicly traded SOL-focused treasury company, Forward Industries, to purchase SOL, stake it, and generate excess return. Hougan also noted that Forward Industries named Kyle Samani, who has been among the cryptocurrency’s most consistent promoters, as chairman. To Bitwise’s CIO, if Samani can “carry the Solana message” like Michael Saylor and Tom Lee have done with Bitcoin and Ethereum, it will help drive investor demand. SOL’s Secret Ingredient Hougan pointed out that the existence of ETPs and treasury companies does not guarantee demand, adding that there must be fundamental reasons for investors’ interest in those vehicles. “Solana is an Ethereum competitor,” he asserted, “it’s a programmable blockchain designed to host stablecoins, tokenized assets, and decentralized finance applications, among other things.” The blockchain recently approved a major technical upgrade that will make it one of the fastest networks in the world. Additionally, it is also third in stablecoin liquidity among programmable blockchains and fourth in tokenized assets, recording rapid growth in this sector. Nonetheless, he argued that there’s a key difference between SOL and the two leading cryptocurrencies. While Bitcoin’s market capitalization sits around $2.2 trillion, and Ethereum’s is near the $530 billion mark, Solana’s market capitalization is around $120.8 billion, 1/20th the size of BTC and less than 1/4th the size of ETH. “Scaled for the size of the blockchain, a relatively small amount of flows into Solana could significantly impact prices,” Hougan explained. He detailed that Forward Industries’ $1.6 billion purchase of SOL shares would be the equivalent of $33 billion in BTC purchases, noting that this could be slightly offset by Solana’s higher annual inflation rate of 4.3%, versus Bitcoin’s 0.8% and Ethereum’s 0.5%. “The setup is still attractive,” he concluded, suggesting that investors keep their eyes on Solana in the coming months. As of this writing, Solana is trading at $222, a 5.1% increase in the weekly timeframe.

XRP price gained pace for a move above the $2.950 resistance. The price is now consolidating gains and might start another increase above $3.020. XRP price is facing hurdles and struggling to clear the $3.050 resistance. The price is now trading above $2.950 and the 100-hourly Simple Moving Average. There is a key contracting triangle forming with support at $2.980 on the hourly chart of the XRP/USD pair (data source from Kraken). The pair could continue to rise if it stays above the $2.9150 zone. XRP Price Eyes More Gains XRP price managed to stay above the $2.850 level and started a fresh increase, beating Bitcoin and Ethereum. The price climbed above the $2.9150 and $2.950 resistance levels. The bulls even pumped the price above the $3.00 level. A high was formed at $3.0365 and the price is now consolidating gains. There was a minor decline and the price tested the 50% Fib retracement level of the upward move from the $2.795 swing low to the $3.036 high. The price is now trading above $2.950 and the 100-hourly Simple Moving Average. Besides, there is a key contracting triangle forming with support at $2.980 on the hourly chart of the XRP/USD pair. If the bulls protect the $2.950 support, the price could attempt another increase. On the upside, the price might face resistance near the $3.020 level. The first major resistance is near the $3.050 level. A clear move above the $3.050 resistance might send the price toward the $3.120 resistance. Any more gains might send the price toward the $3.150 resistance. The next major hurdle for the bulls might be near $3.20. More Downsides? If XRP fails to clear the $3.050 resistance zone, it could continue to move down. Initial support on the downside is near the $2.980 level. The next major support is near the $2.9150 level. If there is a downside break and a close below the $2.9150 level, the price might continue to decline toward $2.880. The next major support sits near the $2.850 zone, below which the price could gain bearish momentum. Technical Indicators Hourly MACD – The MACD for XRP/USD is now gaining pace in the bullish zone. Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is now above the 50 level. Major Support Levels – $2.980 and $2.9150. Major Resistance Levels – $3.050 and $3.120.

Bitcoin (BTC) has declined more than 10% from its latest all-time high (ATH) of $124,128, recorded on Binance in August 2025. However, fresh on-chain data suggests that the cryptocurrency may be preparing for its next bullish wave, as miners are starting to show a structural shift in behavior. Bitcoin Miners Shift Strategy – New High Ahead? According to a CryptoQuant Quicktake post by contributor Avocado_onchain, recent on-chain data hints at a structural shift in Bitcoin miner behavior. At the same time, various other metrics point toward increasing resilience in the Bitcoin network. The analyst brought attention to the Miners’ Position Index (MPI), a metric that has historically shown sharp increases in two scenarios – before a halving when miners strategically sell their holdings, and in late stages of a bull market when they dump their holdings on retail investors. For the uninitiated, the MPI measures the ratio of Bitcoin miners’ outflows – coins sent to exchanges – relative to their one-year moving average. A high MPI indicates that miners are selling more BTC than usual – signaling increased selling pressure – while a low MPI suggests miners are holding or accumulating. However, the current market cycle shows a different trend. While some pre-halving selling was evident, the late bull market sell-offs have been noticeably absent. According to Avocado_onchain, there could be two major reasons for the lack of sell-off. First, the approval and success of spot Bitcoin exchange-traded funds (ETFs) may have had some influence on holders. According to data from SoSoValue, the total net assets tied in spot BTC ETFs currently stand at $144.3 billion – representing 6.5% of BTC’s total market cap. The other potential reason for lukewarm sales of BTC at this stage of the market could be the digital asset’s rapidly rising adoption as a strategic reserve asset by major economies around the world. As a result, miners may be shifting from short-term gains to long-term accumulation. In addition, Bitcoin mining difficulty also recently reached a new ATH, as its growth curve developed a so-called “banana zone” of sharp increases. The surge in mining difficulty reflects rising participation in the Bitcoin network, in addition to strengthening its security. Opinion On BTC Is Split While the miners appear to be holding BTC for the long haul, some analysts predict that the top cryptocurrency may not be out of the woods yet. Crypto analyst Daan Crypto remarked that BTC may be heading below $100,000. That said, other analysts are more optimistic about BTC’s prospects. In a recent analysis, fellow CryptoQuant contributor CoinCare stated that BTC may have another major leg up in the bull cycle. Meanwhile, Fundstrat’s Tom Lee forecasted that BTC may surge to $200,000 by the end of 2025. At press time, BTC trades at $114,139, up 1.5% in the past 24 hours.

EUR/USD Yesterday's US Producer Price Index (PPI) data had little effect on the dollar (Dollar Index -0.01%) but notably shifted the probability of a December rate cut to 3.75% from 58.6% to 62.5%. The August PPI came in at 2.6% versus 3.1% y/y in July (revised down from 3.3%), while Core PPI showed 2.8% y/y versus 3.4% previously (revised down from 3.7%). This is quite a significant drop in the indices, but overall it was due to August's collapse in PPI from 0.7% m/m (0.9% before revision) to -0.1% m/m. Market participants generally judged that the PPI drop in August would only affect overall inflation by winter, which explains the current 62.5% probability of a rate cut by December. However, they may have overlooked a more important factor that could fully neutralize this temporary PPI dip: all of the "Trump tariffs" costs fully passed through by winter—borne by manufacturers and wholesale "border" buyers—will eventually end up with the final consumer. There's no need to wait for December: today's release of August Consumer Price Index (CPI) data will likely already show inflation rising (forecast 2.9% y/y vs. 2.7% prior). By December, as mentioned, the market will have fully absorbed and felt the impact of Trump's tariffs. Yesterday, the euro's attempt at growth was halted by the daily MACD line. By day's end, the euro's price had slipped by 13 pips. The Marlin oscillator did not decline; instead, it waited for a more significant event capable of pushing the price down to the support at 1.1632. If today's CPI release cannot accomplish this, then we will have to wait for the FOMC meeting on the 17th. Also, today brings the ECB's monetary policy decision. Market expectations are neutral; no changes to monetary policy are anticipated. On the H4 chart, price is attempting to break below the MACD (1.1684). A consolidation below this level opens the path toward 1.1632. The Marlin oscillator is fully prepared for this outcome, declining in negative territory. The material has been provided by InstaForex Company - www.instaforex.com

GBP/USD On Wednesday, similar to Tuesday, the British pound managed to rise above the daily MACD indicator line, albeit only with its upper shadow. The day closed at the opening level, which is the support level of 1.3525. The declining Marlin oscillator and, likely, today's release of an increased US CPI for August (forecast at 2.9% y/y versus 2.7% y/y a month earlier) could easily pull the GBP/USD pair below 1.3525 with consolidation under it. This would open up a target at 1.3364. If the signal line of the oscillator moves below the zero line, it will also exit the 0.0007–0.0162 range, which could accelerate the price drop. Alternatively, this may first accelerate the oscillator's fall, followed by price (Marlin is a leading indicator). On the H4 timeframe, price is consolidating around 1.3525. The Marlin oscillator has slowly reached the boundary of its downward trend. The pound is poised for its first leap, with the US inflation data being a natural trigger. The first target is 1.3470—the MACD line on this chart. The material has been provided by InstaForex Company - www.instaforex.com

EUR/JPY The EUR/JPY pair has reversed for the second time from the upper boundary of the price channel and is now holding below the MACD line on the daily chart. The signal line of the Marlin oscillator remains in positive territory but is hesitating in front of the zero line, viewing it as a significant barrier. This likely reflects the price's indecision in overcoming the balance indicator line, where it has lingered for a second day. Today, the market is waiting for the release of US inflation data for August (CPI). If the data supports yen strengthening, the support level at 171.32 (the first target) could be reached today. In this case, the Marlin indicator would move into negative territory, opening the way to the next target at 169.30. This is the main scenario. Alternatively, there is a chance for another return to the price channel boundary (173.64) or slightly above. On the H4 chart, the price has consolidated below the balance and MACD indicator lines. The Marlin oscillator is showing slight growth as the price consolidates beneath these indicator lines. Market expectations ahead of today's US CPI release are restraining any major price moves. The material has been provided by InstaForex Company - www.instaforex.com

Ethereum price started a fresh increase from the $4,240 zone. ETH is now consolidating and might aim for more gains if it clears $4,400. Ethereum is now eyeing an upside break above the $4,400 zone. The price is trading above $4,320 and the 100-hourly Simple Moving Average. There was a break above a key bearish trend line with resistance at $4,330 on the hourly chart of ETH/USD (data feed via Kraken). The pair could start a fresh increase if it settles above $4,380 and $4,400. Ethereum Price Eyes Upside Break Ethereum price started a recovery wave after it formed a base above the $4,220 zone, like Bitcoin. ETH price was able to climb above the $4,320 and $4,350 resistance levels. Besides, there was a break above a key bearish trend line with resistance at $4,330 on the hourly chart of ETH/USD. The pair even climbed above $4,400 before there was a pullback. The recent low was formed at $4,300 and the price is testing the 50% Fib retracement level of the recent decline from the $4,450 swing high to the $4,300 low. Ethereum price is now trading above $4,320 and the 100-hourly Simple Moving Average. On the upside, the price could face resistance near the $4,375 level. The next key resistance is near the $4,415 level or the 76.4% Fib retracement level of the recent decline from the $4,450 swing high to the $4,300 low. The first major resistance is near the $4,450 level. A clear move above the $4,450 resistance might send the price toward the $4,550 resistance. An upside break above the $4,550 resistance might call for more gains in the coming sessions. In the stated case, Ether could rise toward the $4,650 resistance zone or even $4,800 in the near term. Another Decline In ETH? If Ethereum fails to clear the $4,415 resistance, it could start a fresh decline. Initial support on the downside is near the $4,335 level. The first major support sits near the $4,280 zone. A clear move below the $4,280 support might push the price toward the $4,240 support. Any more losses might send the price toward the $4,220 support level in the near term. The next key support sits at $4,160. Technical Indicators Hourly MACD – The MACD for ETH/USD is losing momentum in the bearish zone. Hourly RSI – The RSI for ETH/USD is now above the 50 zone. Major Support Level – $4,335 Major Resistance Level – $4,415

Paul Atkins, the newly appointed chair of the US Securities and Exchange Commission (SEC), has boldly declared that “crypto’s time has come,” marking a pivotal moment in the regulator’s approach to digital assets. Atkins Declares End To ‘Weaponization’ Of Regulation Delivering a keynote address at the inaugural OECD roundtable on global financial markets, Atkins expressed his commitment to unlocking the potential of digital assets in the United States, highlighting the impact of new technologies on global finance. Atkins criticized the previous SEC approach under former chair Gary Gensler, which he described as a “weaponization” of regulatory powers that stifled the crypto industry. The Commissioner pointed out that this “enforcement-centric strategy” not only proved ineffective but also drove innovation overseas, burdening American entrepreneurs with costly legal defenses. He asserted that those days are over and that the SEC is embarking on a new chapter. The SEC under Atkins aims to establish “clear and predictable regulations” that will enable innovation to flourish. He indicated that the agency will no longer rely on ad hoc enforcement actions to set policy. As Congress works on legislation, the SEC is set to modernize its rules through what it has termed “Project Crypto.” This initiative seeks to adapt existing securities regulations to accommodate the digital asset landscape, ensuring that most crypto tokens are clearly classified as non-securities. Future Of Crypto Regulation Atkins also highlighted the need for regulatory efficiency, advocating for a minimum effective dose of regulation to protect investors without overburdening entrepreneurs with complex rules that only large incumbents can navigate. He emphasized the potential for innovation through “super-app” trading platforms that could combine trading, lending, and staking services under a unified regulatory framework. Atkins further unveiled that the Securities and Exchange Commission also plans to collaborate with other regulatory bodies to create a cohesive environment that permits the trading of crypto assets alongside traditional financial services. The regulator praised the European Union (EU) for its stance on digital assets, specifically referencing the Markets in Crypto-Assets (MiCA) regulation, which he sees as a model for regulatory clarity. Atkins expressed a desire for the United States to learn from these efforts, ensuring that America remains a leader in fostering an economic climate conducive to financial innovation. In closing, Atkins articulated a vision for a future where breakthroughs in the financial industry are made on American soil, under American oversight, ultimately benefiting American investors. He welcomed the opportunity to work with international allies to enhance economic collaboration and extend the sphere of freedom and prosperity in the financial markets, including the fast-growing cryptocurrency space. Featured image from DALL-E, chart from TradingView.com

Bitcoin price is attempting to recover above $112,500. BTC is now consolidating and might rise if it clears the $114,250 resistance zone. Bitcoin started a fresh increase above the $113,200 zone. The price is trading below $113,000 and the 100 hourly Simple moving average. There was a break above a bearish trend line with resistance at $112,300 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair might start another increase if it clears the $114,250 zone. Bitcoin Price Eyes Recovery Bitcoin price started a fresh recovery wave from the $110,200 zone. BTC managed to climb above the $111,500 and $112,500 resistance levels. The bulls were able to push the price above $113,000 and $114,000. Besides, there was a break above a bearish trend line with resistance at $112,300 on the hourly chart of the BTC/USD pair. The pair traded as high as $114,270 and recently started a consolidation phase. There was a minor decline below $114,000. The price tested the 23.6% Fib retracement level of the recent move from the $110,815 swing low to the $114,270 high. Bitcoin is now trading above $112,500 and the 100 hourly Simple moving average. Immediate resistance on the upside is near the $114,250 level. The first key resistance is near the $114,500 level. The next resistance could be $115,000. A close above the $115,000 resistance might send the price further higher. In the stated case, the price could rise and test the $115,500 resistance level. Any more gains might send the price toward the $116,200 level. The main target could be $118,000. Another Decline In BTC? If Bitcoin fails to rise above the $114,250 resistance zone, it could start a fresh decline. Immediate support is near the $113,500 level. The first major support is near the $112,500 level or the 50% Fib retracement level of the recent move from the $110,815 swing low to the $114,270 high. The next support is now near the $112,000 zone. Any more losses might send the price toward the $111,500 support in the near term. The main support sits at $110,500, below which BTC might decline sharply. Technical indicators: Hourly MACD – The MACD is now gaining pace in the bullish zone. Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now above the 50 level. Major Support Levels – $112,500, followed by $112,000. Major Resistance Levels – $114,250 and $115,000.