Yesterday, both EURUSD and GBPUSD dropped heavily. The EURUSD finished the session at the S2 support level and the GBPUSD went down below 1.375. Today both currency pairs are still going down. From the data front, there will be many important publications today, such as manufacturing PMI, services PMI and markit composite PMI in March in the UK, Eurozone and US. In the US also durable goods orders in February will be released. Anyway, let’s start the analysis:
EURUSD
The EURUSD dropped heavily yesterday. The price finished the session at the S2 support level. Today it is going down even more. Right now the price is getting close to the S1. If the buyers don’t generate some serious appetite there, the price could drop below 1.18. But if they do, the price might even rise to the Pivot point.
GBPUSD
The GBPUSD also went down deeply yesterday. The price finished the session below 1.375. Today it is going down even more. Right now the price is below 1.37. If the buyers don’t generate some serious appetite soon, the price could drop below 1.365. But if they do, the price might rise to the EMA 77.
SSL Secured