On Friday both EURUSD and GBPUSD dropped significantly. The EURUSD finished the last session of the month below the S2 support level. The GBPUSD went down below 1.40. Today, the EURUSD is falling and the GBPUSD is showing mixed sentiment. From the data front, the February manufacturing PMI index will be published today, first in the Eurozone, then in the UK and the US. Anyway, let’s start the analysis:
EURUSD
The EURUSD dropped heavily on Friday. The price finished the last session of the month significantly below the S2 support level. During today’s Asian trading session the EURUSD showed mixed sentiment, but this morning it started falling. If the buyers don’t generate some serious appetite pretty soon, the price could drop to 1.20. But if they do, the price might rise to the EMA 200.
GBPUSD
The GBPUSD also dropped a bit on Friday. The price finished the month below 1.40. During today’s Asian trading session the price rose and tested the EMA 200 several times, but it wasn’t strong enough to beat it, and this morning it started falling. If the buyers don’t generate some serious appetite pretty soon, the price could drop below 1.39. But if they do, the price might rise above the EMA 77 and 1.40.
SSL Secured