Yesterday, both EURUSD and GBPUSD went up significantly. The EURUSD finished the session above the R2 resistance level and 1.18. The GBPUSD rose to 1.39. However, both Forex pairs are falling today. From the data front, the JOLTs Job Openings in February in the US will be published. Anyway, let’s move on to the analysis:
That was a really strong bullish session for the EURUSD. The price went up above the R2 resistance level and 1.18. However, it is falling slowly today. Right now the bulls are trying to defend 1.18. If they do it successfully, the price might even rise to 1.185. But if they fail, the price could drop below the Pivot Point.
The GBPUSD significantly went up yesterday as well. The price rose above 1.39. Today, it is falling deeply, though. Right now the bulls are trying to defend the EMA 77. If they do it successfully, the price might bounce and return above 1.39. But if they fail, the price could even drop to 1.38.