Yesterday both EURUSD and GBPUSD dropped significantly. Today both currency pairs are rising slowly, though. From the data front, the CPI in January in the Eurozone and GDP in Q4 in the US will be published. Anyway, let’s move on to the analysis:
EURUSD
The EURUSD dropped heavily yesterday. The price finished the session slightly above the S2 support level and 1.06. However, it is rising slowly today. If the buyers continue generating sufficient demand, the price might rise above the Pivot Point and reach 1.063 today. But if the bears counterattack, the price could fall below 1.06.
GBPUSD
The GBPUSD also dropped significantly yesterday. The price finished the session a little above 1.204. However, it is rising slowly today. If the buyers continue generating sufficient demand, the price might rise above the EMA 77 and reach 1.208 today. But if the bears counterattack, the price could fall below 1.203.
SSL Secured