On Friday both EURUSD and GBPUSD managed to rise. Today both currency pairs are going down, though. What can they do next? Let’s try to answer that question in an analysis:
EURUSD
The EURUSD rose strongly on Friday. The price finished the last session of the year above the R1 resistance level, at 1.07. However, it is going down today. If the buyers don’t generate some serious appetite soon, the price could even drop to the S1 support level and the EMA 200. But if they do, the price might go up above 1.07.
GBPUSD
The GBPUSD also managed to rise on Friday. The price finished the last session of the year slightly below 1.209. However, it is going down today. If the buyers don’t generate some serious appetite soon, the price could drop below the EMA 77 and reach 1.205. But if they do, the price might return above 1.208.
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