Yesterday both EURUSD and GBPUSD dropped significantly. Today both currency pairs are rising, though. From the data front, the PPI in the US in January will be published. Anyway, let’s move on to the analysis:
EURUSD
The EURUSD dropped significantly yesterday. The price finished the session a little below the S1 support level, exactly at 1.13. However, it is rising today. If the buyers continue generating firm demand, the price might go up above the EMA 200 and 1.137 today. But if the bears counterattack, the price could fall to the Pivot Point.
GBPUSD
The GBPUSD dropped a bit yesterday. The price finished the session slightly below 1.353. However, it is rising today. If the buyers continue generating firm demand, the price might reach 1.358 today. But if the bears counterattack, the price could fall to the EMA 77.
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