EUR/USD may struggle to extend gains above 1.1000 – Scotiabank

EUR/USD remains steady after four days of losses, trading around 1.1680 during the Asian hours on Thursday. On the daily chart, the 14-day Relative Strength Index at 42.6 (neutral-bearish) indicates weakening momentum after slipping below the 50 midline. RSI staying sub-50 would keep bears engaged and limit recovery attempts.

The GBP/USD pair trades on a flat note around 1.3465 during the early European trading hours on Thursday. Markets turn cautious as traders await the upcoming key US economic data this week. The weekly US Initial Jobless Claims report is due later in the day ahead of the highly anticipated Nonfarm Payrolls reading. 

Gold is nursing losses near $4,450 in Asian trading on Thursday, having suffered about a 1% correction from weekly highs of $4,500 on Wednesday. All eyes remain on the geopolitical developments and the incoming US jobless claims data for fresh trading directives.

Pi Network trades above $0.2000 at press time on Thursday, following a nearly 2% decline the previous day. Centralized Exchanges have received 1.90 million PI tokens over the last 24 hours, suggesting risk-off sentiment among holders. The technical outlook for the PI token remains bearish, with a risk of a cross below the 20-day Exponential Moving Average. 

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Ripple (XRP) is trading downward but holding support at $2.22 at the time of writing on Wednesday, as fear spreads across the cryptocurrency market, reversing gains made from the start of the year.