Yesterday both EURUSD and GBPUSD rose significantly. Today both currency pairs are going up even more. From the data front, the CPI in January in the US will be published. Anyway, let’s move on to the analysis:
EURUSD
The EURUSD rose significantly yesterday. The price finished the session a little below the EMA 200 and 1.072. Today it is going up even more. If the buyers continue generating sufficient demand, the price might even reach the R1 resistance level and 1.075. But if the bears counterattack, the price could return below the EMA 200 and 1.072.
GBPUSD
The GBPUSD also rose significantly yesterday. The price finished the session a little above 1.213. Today it is going up even more. If the buyers continue generating sufficient demand, the price might even reach 1.218 today. But if the bears counterattack, the price could return below 1.214.
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