Yesterday the EURUSD dropped a bit and the GBPUSD showed mixed sentiment. The volatility was rather low, though. Today, the EURUSD is showing mixed sentiment and the GBPUSD is falling heavily. From the data front, the CPI in the Eurozone and building permits in March in the US will be published. Anyway, let’s start the analysis:
EURUSD
The EURUSD dropped a bit yesterday. The volatility was rather low and the price finished the day slightly below the Pivot Point. Today it is showing mixed sentiment. If the buyers take control over the market, the price might rise above the R1 resistance level and even reach 1.20. But if the bears show their strength, the price could fall to the EMA 200.
GBPUSD
The GBPUSD showed mixed sentiment yesterday. The bulls successfully defended the EMA 77. However, the price dropped heavily during today’s Asian trading session. This morning, after testing 1.3715 the GBPUSD managed to bounce, though. If the buyers continue generating sufficient demand, the price might rise to the EMA 77. But if the bears counterattack once again, the price could fall to 1.37.
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