Yesterday both EURUSD and GBPUSD dropped significantly. Today both currency pairs are going down even more. From the data front, the GDP in Q1 will be published. Anyway, let’s move on to the analysis:
EURUSD
Yesterday was a really interesting session. First, the EURUSD managed to go up above the Pivot Point. Then, in the morning, the price started falling heavily. It even dropped below 1.075 at noon. After that, it rose significantly, though. The price even reached the EMA 200 in the early afternoon. However, at the beginning of the American trading session, it started going down once again. In consequence, the EURUSD finished the day at 1.075, slightly above the S1 support level.
Today, the price is falling even more. It is already below today’s S1 and 1.072. If the buyers don’t generate some serious appetite soon, the price could drop below 1.071 today. But if they do, the price might reach 1.074.
GBPUSD
The GBPUSD also was really volatile yesterday. First, the price went up above 1.246. Then, at the beginning of the European trading session, it started falling heavily, though. The price dropped below 1.237 at noon. After that, it rose above 1.24. However, at the beginning of the American trading session, the price started going down even more. In consequence, the GBPUSD finished the day slightly above 1.236.
During today’s Asian trading session, the price dropped below 1.234. However, it managed to rise above 1.236 in the morning. At the beginning of the European trading session, the price started going down once again, though. If the buyers don’t generate some serious appetite soon, the price could fall below 1.233 today. But if they do, the price might return above 1.236.
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