![WTI Oil - Bids anticipated near 50-DMA [Video]](https://editorial.fxstreet.com/images/Markets/Commodities/Energy/Oil/hand-full-of-oil-14004600_XtraLarge.jpg)
Prices may shed few dollars more, but the market isn’t overvalued, hence dip demand is likely. A rebound from the 50-DMA support cannot be ruled out. More in today’s FXSweep video with inputs from Alejandro Zambrano, Chief Market Strategist at LondiniumFX, and Zak Mir, Technical Analyst, Tip TV.
Author
FXSweep Team
FXStreet
EUR/USD manages to reverse two daily pullbacks in a row and advances modestly on Thursday, hovering around the 1.1880 zone amid the inconclusive price action around the US Dollar. Meanwhile, weekly Initial Claims rose more than expected last week, while attention is expected to shift to the upcoming US CPI data on Friday.
GBP/USD trades with modest gains around 1.3640 so far on Thursday. Indeed, Cable looks to leave behind the weakness seen in the first half of the week in a context of an equally erratic performance in the Greenback and disappoting UK data releases.
Gold keeps the choppy trade well in place on Thursday, navigating the area below the $5,100 mark per troy ounce amid the lack of clear direction in the Greenback, declining US Treasury yields across the curve and caution ahead of Friday’s publication of US CPI.
LayerZero (ZRO) trades above $2.00 at press time on Thursday, holding steady after a 17% rebound the previous day, which aligned with the public announcement of the Zero blockchain and Cathie Wood joining the advisory board.
Undoubtedly, yesterday’s delayed US January jobs report delivered a strong headline – one that surpassed most estimates. However, optimism quickly faded amid sobering benchmark revisions.
Aster is up roughly 9% so far on Thursday, hinting at the breakout of a crucial resistance level. Aster partners up with Binance wallet for the second season of the on-chain perpetuals challenge.
