Yesterday both EURUSD and GBPUSD rose strongly once again. Today both currency pairs are going down, though. From the data front, the CPI and core CPI in the US in February will be published. Anyway, let’s move on to the analysis:
EURUSD
The EURUSD rose strongly yesterday. The price finished the session high above the R1 resistance level, slightly below 1.073. However, it is going down today. If the buyers don’t generate some serious appetite soon, the price could drop below the S1 support level and reach the EMA 200. But if they do, the price might return above the Pivot Point and 1.071.
GBPUSD
The GBPUSD also rose strongly yesterday. The price finished the session a little below 1.218. However, it is going down today. If the buyers don’t generate some serious appetite soon, the price could drop below 1.212 and reach the EMA 77. But if they do, the price might even rise above 1.218.
SSL Secured