Yesterday, the EURUSD rose significantly one more time. The price finished the day above 1.19. On the other hand, the GBPUSD showed mixed sentiment and the volatility was rather low. However, both Forex pairs are going down. From the data front, PPI and core PPI in March will be published today in the US. Anyway, let’s start the analysis:
The EURUSD significantly went up yesterday. The price rose above the R1 resistance level and 1.19. Today, it is falling, though. Right now it’s below the Pivot Point and 1.19. If the buyers don’t generate some serious appetite soon, the price could drop to the S1 support level. But if they do, the price might return above 1.19.
The GBPUSD showed mixed sentiment yesterday. The volatility was rather low. However, the price is falling deeply today. Right now it is below 1.37. If the buyers don’t generate some serious appetite soon, the price could drop below 1.365 in the next hours. But if they do, the price might rise to the EMA 77.