Dark cloud cover in Bank Nifty, 58,737 broken, 58,278 crucial, Nifty Elliott Wave – Bulls beware [Video]

EUR/USD is now giving away part of its earlier uptick, receding toward the 1.1730 zone on the back of a mild recovery attempt in the US Dollar. Indeed, the Greenback attempts a rebound as investors continue to closely follow President Trump’s speech at the WEF in Davos.

GBP/USD regains some balance and advances toward the 1.3440 zone on Wednesday aftyer bottoming out near the 1.3400 support. Cable’s marginal gains comes on the back of the lacklustre performance of the Greenback amid Trump’s comments in the WEF.

Gold extended its impressive rally to a fresh all-time high near $4,900 per troy ounce earlier on Wednesday. Risk appetite remains fragile, with investors staying cautious amid President Trump’s speech at Davos, while EU–US tensions continue to simmer over the Greenland issue.

Bitcoin holds below $90,000 on Wednesday, weighed down by weakening institutional and retail demand. Ethereum defends $2,900 support amid resumption of spot ETF withdrawals. XRP holds above $1.90 as US-listed spot ETFs record the second outflow since launch.

US President Donald Trump delivers a keynote speech at the World Economic Forum (WEF) held in Davos. "Certain places in Europe not recognizable any more."

Monero (XMR) is extending its downtrend, below the $500 level at the time of writing on Wednesday, as sellers remain dominant during the American session. XMR has declined by approximately 38% from a recent high of $800, reached last Wednesday.