Yesterday, the EURUSD showed mixed sentiment and the GBPUSD went up a bit. However, both Forex pairs are falling today. From the data front, there will be many important publications in the US today, such as retail sales, PPI, industrial production and the University of Michigan consumer sentiment survey. Anyway let’s start the analysis:
The EURUSD showed mixed sentiment yesterday. First the price dropped below the S1 support level, but then it managed to rise and test the Pivot Point. In the end it finished the day almost at the same level, where it began. However, the price is falling today. Right now it is getting close to the S1. If the buyers don’t generate some serious appetite soon, the price could reach 1.21. But if they do, the price should rise above the Pivot Point.
On the other hand, the GBPUSD rose significantly yesterday. The price even tested 1.37 and finished the day slightly below it. However, it is falling today. The price is already below the EMA 77 and it’s getting closer to 1.36. If the buyers don’t generate some serious appetite soon, the price could drop below 1.36. But if they do, the price should return above the EMA 77.