EUR/USD Technical Analysis: Remains bearish below the 55-day SMA near 1.1040

EUR/USD sticks to the sideline theme just above the 1.10 mark.
The 1.0990 region holds the downside for the time being.

Pablo Piovano FXStreet

EUR/USD, in the meantime, keeps the narrow trading range in the low-1.1000s for the time being.

Immediately above emerges the key 55-day SMA near 1.1040. While below this area, the bearish note on the pair is expected to persist. That said, a breach of 1.10/1.0990 should open the door for a potential test of the 1.0930 region ahead of the 2019 low at 1.0879.

On the flip side, if the 55-day SMA is cleared on a sustainable fashion, the downside pressure is expected to mitigate somewhat and allow for a move to the 100-day SMA near 1.1070.

EUR/USD

Overview
Today last price	1.1012
Today Daily Change	15
Today Daily Change %	-0.05
Today daily open	1.1017

Trends
Daily SMA20	1.1042
Daily SMA50	1.1041
Daily SMA100	1.1076
Daily SMA200	1.1166

Levels
Previous Daily High	1.103
Previous Daily Low	1.0981
Previous Weekly High	1.1034
Previous Weekly Low	1.0981
Previous Monthly High	1.1176
Previous Monthly Low	1.0981
Daily Fibonacci 38.2%	1.1011
Daily Fibonacci 61.8%	1.1
Daily Pivot Point S1	1.0989
Daily Pivot Point S2	1.0961
Daily Pivot Point S3	1.094
Daily Pivot Point R1	1.1037
Daily Pivot Point R2	1.1058
Daily Pivot Point R3	1.1086

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 looks weak below 1.1800

EUR/USD has slipped back under pressure, breaking through the 1.1800 support and drifting towards the weekly lows near 1.1770 ahead of the opening bell in Asia. The move reflects renewed strength in the US Dollar, with steady geopolitical tensions keeping its demand firm. Moving forward, the release of the German labour market report and flash inflation figures should keep European investors entertained on Friday.

GBP/USD threatens the 200-day SMA near 1.3440

GBP/USD rapidly leaves behind Wednesday’s strong advance, coming under heavy pressure and retesting the 1.3440 zone, where the critical 200-day SMA is located. Cable’s deep pullback follows the strong gains in the Greenback, while investors continue to pencil in a potential BoE rate cut in March.

Gold trims gains, slips back to around $5,170

Gold is now facing some downside pressure, hovering around the $5,170 region on Thursday. The yellow metal surrenders part of its earlier gains on the back of the resurgence of the buying interest in the Greenback. In the meantime, geopolitical tensions in the Middle East continue to limit the downside potential for now.