Yesterday both EURUSD and GBPUSD managed to rise. Today the GBPUSD is going up even more, but the EURUSD is falling. What can they do next? Let’s try to answer that question in an analysis:
EURUSD
Yesterday was a really interesting session. First, during the Asian trading session, the EURUSD reached the EMA 200. Then, in the morning, the price started rising. It even went up above the R1 resistance level and 1.096 in the late afternoon. After that, the price started falling once again. In consequence, the EURUSD finished the session slightly above the R1, a little below 1.095.
Today, the price is going down. It is already below 1.094. If the buyers don’t generate some serious appetite soon, the price could drop below the EMA 200 and reach today’s S1 support level. But if they do, the price might rise above 1.095 today.
GBPUSD
The GBPUSD also was really volatile yesterday. First, during the Asian trading session, the price dropped below 1.278. Then, 60 minutes before noon, it started rising. The price even went up above 1.281 in the late afternoon. After that, it started falling once again. In consequence, the GBPUSD finished the session a little below 1.28, slightly above the EMA 77.
During today’s asian trading session, the price dropped below the EMA 77 and 1.279. Then, it started rising. If the buyers continue generating sufficient demand, the price might even reach 1.284 today. But if the bears counterattack, the price could drop to 1.278.
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