Yesterday both EURUSD and GBPUSD dropped significantly. However, both currency pairs are rising today. From the data front, all eyes will be focused on the nonfarm payrolls and unemployment rate in August in the US. Anyway, let’s move on to the analysis:
EURUSD
Yesterday was a really interesting session. First, during the early hours of the Asian trading session, the EURUSD rose above 1.093. Then, the price started falling deeply. It even dropped below 1.084 in the late afternoon. After that, the price managed to rise a bit. In consequence, the EURUSD finished the session a little above 1.084.
During today’s Asian trading session, the price dropped below 1.083. Then, at the beginning of the European trading session, it started rising. If the buyers continue generating firm demand, the price might go up above the Pivot Point and 1.087. But if the bears counterattack, the price could return below 1.083.
GBPUSD
The GBPUSD also was really volatile yesterday. First, during the early hours of the Asian trading session, the price rose above 1.273. Then, it started falling deeply. The price even dropped below 1.266 at the beginning of the American trading session. After that, it managed to rise a bit. In consequence, the GBPUSD finished the day a little above 1.267.
During today’s Asian trading session, the price dropped below 1.264. Then, at the beginning of the European trading session, it started rising. The price is already above the EMA 77 and 1.268. If the buyers continue generating firm demand, the price might even reach 1.27 today. But if the bears counterattack, the price could return below 1.265.
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