ETHUSD from a logarithmic perspective

The EUR/USD pair posts a fresh weekly low near 1.1740 during the Asian trading session on Wednesday. The major currency pair is under pressure as the US Dollar edges higher despite Federal Open Market Committee minutes of the December policy meeting, released on Tuesday, showing that most policymakers stressed the need for further interest rate cuts.

GBP/USD remains subdued for the second consecutive day, trading around 1.3460 during the Asian hours on Wednesday. The technical analysis of the daily chart indicates a weakening of a bullish bias as the pair is positioned slightly below the lower boundary of the ascending channel pattern.

Gold price extends the rally above $4,350 during the early European trading hours on Wednesday. Gold's price has surged about 65% this year and is set to record its biggest annual gains since 1979. The rally in the precious metal is bolstered by the prospect of further US interest rate cuts in 2026. Lower interest rates could reduce the opportunity cost of holding Gold, supporting the non-yielding precious metal.

Bitcoin, Ethereum, and Ripple are holding steady on Wednesday after recording minor gains on the previous day. Technically, Bitcoin could extend gains within a triangle pattern while Ethereum and Ripple face critical overhead resistance. 

Bitcoin (BTC) is wrapping up 2025 as one of its most eventful years, defined by unprecedented institutional participation, major regulatory developments, and extreme price volatility.

The highlight of the day was the Federal Open Market Committee (FOMC) Minutes of the December meeting released in the American afternoon. The Minutes showed that most participants are willing to deliver additional rate cuts if inflation declines over time.