Uptrend Could Resume After Completing Technical Pullback

Cryptocurrency

Summary:

This area also aligns with the 0.618 Fibonacci retracement level, suggesting it could mark the end of the current downside correction.

BUY ETH-USDT

Close Time

CLOSED

4493.32

Entry Price

4860.00

4100.00

3108.39 +81.43 +2.69%

1084.9

Pips

Profit

4100.00

4601.81

Exit Price

4493.32

Entry Price

4860.00

BitMine, the Ethereum-focused treasury firm chaired by Tom Lee, reported on Monday that its combined cryptocurrency and cash reserves have reached an impressive $10.8 billion. The company, already recognized as the largest institutional holder of Ethereum worldwide, announced another major crypto purchase as it advances toward its ambitious goal of controlling 5% of the circulating ETH supply.

According to several reports, BitMine disclosed in its latest update that it had purchased approximately 82,233 ETH (worth around $370 million) since September 8, in line with transactions noted by analysts last week. With this acquisition, the firm has increased its holdings to 2,151,676 ETH valued at roughly $9.75 billion, alongside 192 BTC (around $22.1 million), a $214 million stake in the treasury firm WLD Eightco, and $569 million in uncommitted cash reserves.

Meanwhile, PayPal has introduced a new feature called PayPal Links, designed to simplify peer-to-peer payments, including cryptocurrency transfers. Announced in a press release on Monday, PayPal Links is initially available in the U.S. and is expected to roll out to the U.K., Italy, and other countries later in September.

The company is positioning the tool as a simpler alternative to services like Zelle or CashApp, and as a complement to Venmo. “It lets your money follow your conversations,” said Diego Scotti, General Manager of the Consumer Group. A key point highlighted by ZDNET is that PayPal plans to integrate cryptocurrency support directly into the Links feature.

Soon, users in the U.S. will be able to quickly send Bitcoin, Ethereum, PYUSD, and other cryptocurrencies to PayPal, Venmo, and other compatible digital wallets. PayPal will also allow senders to choose the currency when creating a link, making it easier to transfer funds to recipients in over 110 countries. This combination of crypto compatibility and global reach aims to expand payment options for both traditional users and those operating with digital assets.

In other developments, the Ethereum Foundation announced on Tuesday a major security audit contest with a prize pool of up to $2 million to ensure the safety of its upcoming “Fusaka” network upgrade, scheduled for release on the mainnet by the end of 2025.

The contest, which began on September 15 and runs until October 13, is organized by the security platform Sherlock with additional support from Gnosis ($100,000) and Lido ($25,000). The goal is to invite security experts to thoroughly review the Fusaka code to detect any potential bugs or vulnerabilities before they can impact the network. Valid findings will be compiled into an official report.

To encourage participation, the Ethereum Foundation will award a 2x points multiplier for valid bugs reported during the first week and a 1.5x multiplier for those found in the second week, adding extra incentive to contribute early. Uptrend Could Resume After Completing Technical Pullback_1

Uptrend Could Resume After Completing Technical Pullback_1

Technical Analysis

ETH has pulled back toward the 4,423 area, where the 100- and 200-period moving averages on the 4-hour chart are currently converging around 4,422 and 4,444. These levels have previously provided strong bullish reactions, and recent candles have shown upward momentum from this zone. This area also aligns with the 0.618 Fibonacci retracement level, suggesting it could mark the end of the current downside correction and serve as a springboard for another leg higher toward the next resistance at 4,864.

Meanwhile, the RSI has dipped to 38, approaching oversold territory without fully entering it. Importantly, price is also nearing its ascending trendline. If this area holds and sellers fail to break it decisively to the downside, the broader bullish structure could remain intact, allowing upside momentum to persist. However, a clear breakdown below this confluence zone could trigger a deeper correction in ETH amid the heightened volatility expected in the days ahead.

Trading Recommendations

Trading direction: Buy

Entry price: 4494

Target price: 4860

Stop loss: 4100

Validity: Sep 26, 2025 15:00:00

Risk Warnings and Disclaimers

You understand and acknowledge that there is a high degree of risk involved in trading. Following any strategies or investment methods may lead to potential losses. The content on the site is provided by our contributors and analysts for information purposes only. You are solely responsible for determining whether any trading assets, securities, strategy, or any other product is suitable for investing based on your own investment objectives and financial situation.

Add to Favorites

Warren Takunda

Traders' Opinions

Summary:

The British Pound strengthened against major currencies on Tuesday, bolstered by resilient UK labor market data. Investors are eyeing upcoming CPI and Bank of England policy announcements, which could drive further volatility in GBP trading.

BUY GBPUSD

Close Time

CLOSED

1.36601

Entry Price

1.37500

1.35400

1.33382 +0.00070 +0.05%

120.1

Pips

Loss

1.35400

Exit Price

1.36601

Entry Price

1.37500

The Pound Sterling (GBP) gained traction against major currencies on Tuesday, reaching its highest levels against the US Dollar in over two months, as investors digested fresh labor market data from the United Kingdom. According to the Office for National Statistics (ONS), the unemployment rate remained steady at 4.7% in the three months ending July, a four-year high but in line with market expectations.

Employment growth in the UK continued to show resilience, with the economy adding 232,000 jobs in the quarter, closely matching forecasts of 220,000 and slightly below the previous quarter’s tally of 239,000. The labor market’s underlying strength was further reflected in wage growth. Average earnings excluding bonuses, a key gauge of wage inflation, rose 4.8% annually, consistent with forecasts yet slower than the 5% pace observed previously. Average earnings including bonuses—a metric closely monitored by the Bank of England (BoE)—increased 4.7%, slightly above the prior reading of 4.6%, signaling a stable but moderate acceleration in compensation pressures.

These figures provide a nuanced picture for policymakers. Steady employment conditions may offer some comfort to the BoE, which has expressed concerns over potential labor market weakness. Earlier this month, BoE Governor Andrew Bailey noted that he was “more concerned about downside job risks” than some members of the Monetary Policy Committee (MPC), who in August opted to maintain the policy rate. The resilience in the labor market could reduce the urgency for immediate monetary tightening, though inflationary pressures remain a key concern.

Financial markets are bracing for a potentially volatile week for the Pound. Investors are awaiting the release of the UK Consumer Price Index (CPI) for August on Wednesday and the BoE’s monetary policy decision on Thursday. Economists expect headline inflation to rise slightly to 3.9% from 3.8% year-on-year. Any acceleration in inflation could reinforce expectations that the BoE will hold interest rates steady at 4% in its upcoming policy review, while subdued inflation might rekindle speculation of a future rate adjustment.

Technical Analysis

On the technical front, GBP/USD confirmed bullish momentum during intraday trading, breaking past the critical resistance level at 1.3585. The pair remains supported above its 50-day exponential moving average (EMA50), indicating that short-term upward trends are intact. A key resistance zone between 1.36326 and 1.35700 has now shifted to become support, setting the stage for further gains.

However, relative strength indicators suggest caution in the short term. After entering overbought territory, some negative overlapping signals appeared, prompting minor corrective trading. Despite this, the broader bias remains bullish, with potential upside targeting 1.3750 in the near term.

TRADE RECOMMENDATION

BUY GBPUSD

ENTRY PRICE: 1.3660

STOP LOSS: 1.3540

TAKE PROFIT: 1.3750

Risk Warnings and Disclaimers

Add to Favorites

Warren Takunda

Traders' Opinions

Summary:

The Australian dollar strengthened on Tuesday, trading near a one-month high against the U.S. dollar, as investors braced for a widely expected Federal Reserve rate cut

BUY AUDUSD

Close Time

CLOSED

0.66700

Entry Price

0.67200

0.66300

0.66434 +0.00051 +0.08%

7.1

Pips

Profit

0.66300

0.66771

Exit Price

0.66700

Entry Price

0.67200

The Australian dollar was trading firmly near its Monday peak at 0.6670 against the U.S. dollar during the European session on Tuesday, with momentum pointing to further upside as markets priced in aggressive expectations of Federal Reserve policy easing. The move underscores a growing narrative in global FX markets: that the U.S. central bank has reached the end of its tightening cycle and is now preparing to unwind its restrictive monetary stance.

The U.S. dollar index (DXY), which tracks the greenback’s performance against six major peers, slumped to a fresh seven-week low around 97.00 at press time. Traders have been quick to trim dollar exposure ahead of Wednesday’s highly anticipated Fed policy decision. According to the CME FedWatch tool, there is now a 96% probability that the Fed will lower rates by 25 basis points to 4.00%-4.25%, with a growing minority anticipating a more aggressive 50-basis point cut.

This dovish shift has been largely driven by weakening labor market indicators in the U.S., exacerbated by the effects of tariffs imposed under President Donald Trump’s trade strategy. In recent weeks, several Fed officials, including Chair Jerome Powell, have openly flagged the risks of a slowing jobs market, signaling that employment concerns now outweigh inflation fears. Powell’s comments in particular have reinforced investor confidence that the Fed is ready to act decisively to support growth.

Market focus now turns to incoming U.S. retail sales data for August, scheduled for release at 12:30 GMT. Retail sales are forecast to have grown by a modest 0.2%, reflecting resilient but cooling consumer demand. A softer reading would add further weight to the case for deeper Fed cuts, while a stronger surprise could temporarily stall dollar weakness.

On the other side of the equation, the Australian dollar faces its own set of domestic data risks. Traders are awaiting Australia’s August employment report, due on Thursday. Economists expect the unemployment rate to hold steady at 4.2%, with a net gain of around 21,200 jobs, down slightly from the previous month’s 24,500. Given the Reserve Bank of Australia’s (RBA) cautious stance on growth and inflation, the data could provide a fresh directional cue for the currency.

Technical Analysis

From a technical perspective, AUD/USD continues to display strong bullish momentum. The pair is testing the 0.6670–0.6680 resistance zone, a level that has capped gains in recent sessions. Price action remains comfortably above the 50-day exponential moving average (EMA50), while the broader structure shows the pair respecting its ascending trendline. Additional support is drawn from the EMA 34/89 combination, which reinforces the bullish bias.

Momentum indicators are also flashing encouraging signals. Relative strength measures suggest that buyers remain firmly in control, with upside potential intact as long as the pair sustains above the trendline. A clean break above 0.6680 could open the door toward higher targets, potentially retesting 0.6720 and beyond, while failure to clear resistance may trigger short-term consolidation.

TRADE RECOMMENDATION

BUY AUDUSD

ENTRY PRICE: 0.6670

STOP LOSS: 0.6630

TAKE PROFIT: 0.6720

Risk Warnings and Disclaimers

Add to Favorites

Warren Takunda

Traders' Opinions

Summary:

The euro advanced to a fresh multi-month high as a surprise rebound in German investor sentiment and expectations of a dovish Federal Reserve weighed on the dollar.

BUY EURUSD

Close Time

CLOSED

1.18100

Entry Price

1.19000

1.17500

1.16528 +0.00102 +0.09%

27.6

Pips

Profit

1.17500

1.18376

Exit Price

1.18100

Entry Price

1.19000

The euro strengthened further against the U.S. dollar on Tuesday, climbing to levels not seen since early July after a surprise improvement in German economic sentiment lifted confidence across European markets. The single currency briefly reached 1.1818 before easing back toward the 1.1800 area ahead of the opening of the U.S. session. The move builds on momentum seen in recent weeks, as the euro continues to recover from its late-summer weakness, which was driven by concerns over slowing eurozone growth and rising fiscal strains in France.

Data from the Zentrum für Europäische Wirtschaftsforschung (ZEW) revealed that investor expectations for Germany’s economic outlook improved in September, defying consensus forecasts for another deterioration. While the assessment of current conditions slipped for the second consecutive month, the jump in forward-looking sentiment suggests that investors are positioning for stabilization in Europe’s largest economy. The broader eurozone sentiment index also showed a brighter reading after a steep decline in August, offering some relief to policymakers in Frankfurt who have struggled to instill confidence in the bloc’s uneven recovery.

The improvement in sentiment helped offset the negative headlines surrounding France’s debt load and ongoing fiscal debates within the European Union. For investors, the data provided a reason to step back into the euro at a time when the dollar is under pressure from shifting expectations about U.S. monetary policy.

The greenback has been sliding as markets prepare for the Federal Reserve’s policy decision on Wednesday. Traders increasingly expect not just a rate cut, but also a dovish signal that could pave the way for further easing later this year. The U.S. Dollar Index, which tracks the performance of the dollar against six major peers, slipped to its lowest levels in nearly two months. Meanwhile, Wall Street equities climbed to fresh record highs as the prospect of lower borrowing costs boosted risk appetite and overshadowed concerns about slowing growth.

Attention later in the day will shift to U.S. retail sales data for August. Economists expect consumption to have cooled, largely because of weaker demand for automobiles. Should the report confirm a slowdown, it would add further pressure on the Fed to act and likely keep the dollar on the back foot. On the other hand, a stronger outcome could temporarily arrest the dollar’s slide, although the broader bias remains tilted against the greenback.

Technical Analysis

From a technical perspective, the euro-dollar pair continues to display strong upward momentum. The rally pushed the exchange rate above the important resistance level of 1.1785, which had capped gains in recent weeks. This breakout is supported by price action remaining comfortably above the 50-day Exponential Moving Average, reinforcing the bullish structure. Trading has also followed an upward-sloping bias line, adding weight to the case for further gains. However, oscillators and relative strength indicators are beginning to show early signs of negative divergence, suggesting that while the uptrend remains intact, some moderation or short-term pullback cannot be ruled out.

The 1.1700 level remains a crucial floor from recent consolidation, and as long as the pair holds above it, the bullish view remains valid. A sustained rebound from that area would confirm ongoing upside momentum and keep the market focused on further advances. The next areas of interest on the upside are 1.1846, which represents immediate resistance, followed by the psychological barrier at 1.1900, where traders may begin to take profits. Should the momentum extend beyond that threshold, the longer-term target near 1.1933 comes into play.

TRADE RECOMMENDATION

BUY EURUSD

ENTRY PRICE: 1.1810

STOP LOSS: 1.1750

TAKE PROFIT: 1.1900

Risk Warnings and Disclaimers

Add to Favorites

Eva Chen

Central Bank

Commodity

Summary:

During Tuesday's European trading session, gold prices approached historic highs near US$3,700. Rising expectations for Federal Reserve rate cuts continue to weigh on the dollar, benefiting the non-yielding asset. Ahead of this week's pivotal Fed policy announcement, extreme overbought conditions have failed to curb gold's ascent - a typical buyer's market.

BUY XAUUSD

Close Time

CLOSED

3689.12

Entry Price

3850.00

3625.00

4200.72 +2.81 +0.07%

1608.8

Pips

Profit

3625.00

3850.09

Exit Price

3689.12

Entry Price

3850.00

Fundamentals

The dollar plunged as markets anticipated the Federal Reserve would adopt a dovish stance on Wednesday, propelling gold prices higher for a third consecutive day. The U.S. Dollar Index fell to a two-month low, supporting gold to reach a record high near US$3,700. However, gold is currently in overbought territory and may experience some near-term pullbacks.

We should expect heightened volatility around the time of the Fed statement release, particularly if market participants perceive that rate cuts will be accompanied by a hawkish statement. For instance, if the Fed fails to provide support in its guidance and projections, it could trigger a sharp decline in gold prices.

However, since Trump wants to see lower interest rates, investors should expect gold to continue its current upward trend over the next few months; it will then consolidate before rising again in 2026.

Moreover, the long-term bull market for gold appears unchanged, as demand continues to grow at an accelerated pace, particularly from central banks and ETFs.

Technical Analysis

Following a near-vertical rally, gold prices experienced a brief correction on Tuesday. Concerns among investors persist, as overbought signals suggest a potentially volatile upward trajectory. This has fueled speculation of profit-taking and selling near historical highs ahead of the Federal Reserve's announcement. Conversely, the dip-buying behavior indicates a typical buyer's market.

Immediate support levels are anticipated at the 20-day SMA of US$3,530 and the US$3,500 support level, if the prices breach the US$3,600-$3,590 range. Failure to hold these levels could lead to a further decline towards the 50-day SMA at US$3,453, coinciding with the upper boundary of the previous consolidation range.

On the upside, the bullish market dynamics may limit opportunities for late entrants, with buy-the-dip strategies expected to dominate the near-term rally. This could potentially target the US$3,700-$3,735 range, with further gains aiming for the ultimate target of US$3,850.

Trading Recommendations

Trading Direction: Buy

Entry Price: 36858

Target Price: 3850

Stop Loss: 3625

Valid Until: October 1, 2025 23:55:00

Support: 3674, 3656, 3613

Resistance: 3700, 3735, 3752

Risk Warnings and Disclaimers

Add to Favorites

Eva Chen

Central Bank

Forex

Summary:

The UK's unemployment rate continues to decline, while wage growth remains robust, potentially leading the Bank of England to hold interest rates steady. In the 4H timeframe, the GBPUSD has broken out of a contracting triangle pattern, trading above 1.3600 and extending its bullish momentum.

BUY GBPUSD

Close Time

CLOSED

1.36455

Entry Price

1.38500

1.34500

1.33382 +0.00070 +0.05%

195.5

Pips

Loss

1.34500

1.34499

Exit Price

1.36455

Entry Price

1.38500

Fundamentals

The GBPUSD experienced a modest pullback on Tuesday after breaching the 1.3600 level, yet it maintained a positive trajectory. Robust UK wage growth may prompt the Bank of England to hold steady on interest rates during Thursday's meeting.

The UK labor market data for August, released on Tuesday, revealed a decline of 8,000 jobs month-over-month, continuing the downward trend observed since the peak in Q3 2024. The claimant count increased by 17,400, falling short of the anticipated 20,300. Median monthly earnings saw a 6.6% year-over-year increase, surpassing the 6.0% recorded in July, indicating persistent wage pressures.

The unemployment rate remained stable at 4.7% for the three months ending in July, aligning with expectations. Average earnings excluding bonuses edged down from 5.0% to 4.8%, while average earnings including bonuses saw a slight uptick from 4.6% to 4.7%. Overall, the data suggests ongoing job losses, but sustained wage growth warrants a cautious approach to policy by the Bank of England.

Job Market Resilience Strengthens, with Wage Pressure Supporting the Pound's Continued Uptrend_1

Technical Analysis

Following a breach of 1.3600, the GBPUSD maintains its upward trajectory, though bulls must secure a daily close above 1.3600 to facilitate further gains. The subsequent significant resistance level is the July 4 high of 1.3682, followed by 1.3700. A break above the latter would target the July 1 high of 1.3788.

Conversely, if GBPUSD struggles at the 1.3600 level, a test of 1.3550 could ensue. Further weakness might see a challenge of the 20-day SMA at 1.3496.

From a broader trend perspective, the uptrend initiated from 1.3051 (2022 low) remains intact. The next intermediate target is the 61.8% retracement of 1.0351, from 1.2099 to 1.3433, with a final target at 1.4004. As long as the 55-day SMA (currently at 1.3151) holds, the outlook remains bullish, even amid significant pullbacks.

Trading Recommendations

Trading Direction: Buy

Entry Price: 1.3597

Target Price: 1.3850

Stop Loss: 1.3450

Valid Until: October 1, 2025 23:55:00

Support: 1.3590, 1.3523, 1.3483

Resistance: 1.3650, 1.3681, 1.3751

Risk Warnings and Disclaimers

Add to Favorites

Alan

Forex

Summary:

The latest UK employment data shows some softness in the labor market, but recent strong economic figures continue to support the British pound.

BUY GBPJPY

Close Time

CLOSED

200.381

Entry Price

204.900

198.600

206.645 -0.455 -0.22%

2.0

Pips

Profit

198.600

200.401

Exit Price

200.381

Entry Price

204.900

Fundamentals

Released today, the UK labor market data indicates a slowdown in wage growth, a month-on-month decline in the number of people in work, and a rise in the unemployment rate to around 4.7%, with payroll numbers for the month also decreasing, signaling a cooling in employment momentum. Seemingly, the market could interpret such signs of labor market weakness as a reason for the Bank of England to adopt a more dovish policy path, which would put downward pressure on the British pound. However, deeper data also reveal that the UK's GDP still recorded moderate growth in Q2 (positive on a quarterly basis). Additionally, although wage levels have decreased, they remain above pre-pandemic trends. This reveals the Bank of England is not about to turn decisively dovish just yet, and there is still potential for its policy stance to "hold relatively high interest rates to combat inflation." In other words, while the employment weakness provides a short-term reason for a pullback, it does not necessarily invalidate the pound's long-term valuation. On the contrary, such data fluctuations often create better entry opportunities for traders willing to buy the pound with a preference for higher interest rate differentials and risk appetite.

Technical Analysis

Holding Firm Above 200.00 Is Just the Beginning_1

The daily chart shows that the closing price of GBP/JPY last Friday confirmed a firm breakout and hold above the 200.00 level. These key psychological and technical barriers are effectively breached, further opening up the upside potential for GBP/JPY.

At present, the short-term resistance for GBP/JPY lies in the 202.00-203.00 range, with stronger resistance seen between 205.00 and 208.00. The first key support zone to watch is around 199.00–199.60. Should the exchange rate break above 202.00 in the short term and hold above that level, it would technically confirm a breakout, likely triggering additional follow-up buying interest. Conversely, if the pair retraces to the 199.00–199.60 zone and holds steady there, it would present a lower-risk opportunity to buy the dips.