On Friday, the EURUSD showed mixed sentiment and successfully defended 1.19. On the other hand, the GBPUSD went down significantly. After the weekend both Forex pairs opened much lower. The EURUSD is still showing mixed sentiment and the GBPUSD is rising. From the data front, existing home sales in February in the US will be published today. Anyway, let’s start the analysis:
On Friday, the EURUSD showed mixed sentiment. First the bulls attacked the EMA 200, then the bears tried to beat the S1 support level. In the end, both sides weren’t strong enough and the price finished the week at 1.19. After the weekend, it opened significantly lower, though. Right now, the price is still below 1.19. If the bulls take control over the market, the price might even rise above the EMA 200. But if the bears show their strength, the price could drop below the S1.
The GBPUSD dropped strongly on Friday. First, the price rose above the EMA 77. Then it went down deeply and finished the week significantly below 1.39. Moreover, after the weekend, the price opened even lower. However, it has been rising since then. If the buyers continue generating sufficient demand, the price might return above 1.39. But if the bears show their strength once again, the price could fall to 1.38.