EUR/USD Price Analysis: Solid support remains at 1.1170

EUR/USD is adding to Thursday’s losses and trades near 1.1230.
The pair stays well supported near 1.1170 in the near-term.

Pablo Piovano FXStreet

EUR/USD is prolonging the consolidative move at/above the 1.1200 mark at the end of the week.

There is a tough support in the 1.1170/65 band. A breach of this area of contention could morph into a deeper retracement to the 200-day SMA, today ay 1.1037.

In the meantime, while above the latter, the constructive view is expected to remain well in place around EUR/USD.

EUR/USD daily chart

EUR/USD

Overview
Today last price	1.1231
Today Daily Change	30
Today Daily Change %	-0.08
Today daily open	1.124

Trends
Daily SMA20	1.1265
Daily SMA50	1.107
Daily SMA100	1.1013
Daily SMA200	1.104

Levels
Previous Daily High	1.1303
Previous Daily Low	1.1224
Previous Weekly High	1.1348
Previous Weekly Low	1.1169
Previous Monthly High	1.1422
Previous Monthly Low	1.1097
Daily Fibonacci 38.2%	1.1254
Daily Fibonacci 61.8%	1.1272
Daily Pivot Point S1	1.1208
Daily Pivot Point S2	1.1176
Daily Pivot Point S3	1.1129
Daily Pivot Point R1	1.1287
Daily Pivot Point R2	1.1334
Daily Pivot Point R3	1.1366

Author

Pablo Piovano

FXStreet

Born and bred in Argentina, Pablo has been carrying on with his passion for FX markets and trading since his first college years.

EUR/USD clings to daily gains, still below 1.1900

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 picks up pace, hits 1.3640

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 stays offered below $5,100

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 Price Forecast: ZRO steadies as markets digest Zero blockchain announcement

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.

A tale of two labour markets: Headline strength masks underlying weakness

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.

Sonic Labs’ vertical integration fuels recovery in S token

Sonic, previously Fantom (FTM), is extending its recovery trade at $0.048 at the time of writing, after rebounding by over 12% the previous day. The recovery thesis’ strengths lie in the optimism surrounding Sonic Labs’ Wednesday announcement to shift to a vertically integrated model, aimed at boosting S token utility.