Elliott Wave analysis: Nifty, Bank Nifty, Gold and Bitcoin eye critical levels [Video]

EUR/USD is back under pressure and slipping towards the 1.1600 mark, hovering around multi-week lows as the Greenback extends its recovery. The move higher in the pair comes amid higher US yields and a generalised subdued sentiment in the risk complex.

Moving in step with other risk-sensitive peers, GBP/USD is attracting heavier selling and has slipped below the key 1.3400 support on Thursday to hit fresh four-week troughs. Cable’s decline reflects a firmer US Dollar as investors keep evaluating the latest batch of US data.

Gold is giving back part of its recent strong run, managing to bounce off earlier lows and reclaim the area beyond the $4,600 mark per troy ounce on Thursday. The pullback comes as the Greenback regains traction, Treasury yields move higher, and some profit-taking kicks in.

Bitcoin holds above the 100-day EMA after correcting from the previous day’s high amid surging ETF inflows. Ethereum posts a minor correction on Thursday after a notable bullish move above $3,400, reflecting potential profit-taking.

This isn’t “Sell America” — it’s “Buy breadth.” Investors are diversifying away from narrow US leadership and looking for returns that aren’t concentrated in a handful of mega-caps.

XRP lags behind other crypto majors, declining for the second consecutive day on Thursday. Ripple secures preliminary approval for an Electronic Money Institution license from the CSSF, Luxembourg's financial regulator.