On Friday the EURUSD went down, but the GBPUSD managed to rise a bit. Today, the EURUSD is falling even more and the GBPUSD is showing mixed sentiment. What can they do next? Let’s try to answer that question in an analysis:
EURUSD
Friday was a really interesting session. First, during the early hours of the Asian trading session, the EURUSD managed to rise above 1.108. Then, the price started falling. It even dropped below the EMA 200 and 1.105 in the morning. After that, the price started rising once again. It returned above 1.108 in the early afternoon. Right after that, the price started falling heavily. In consequence, the EURUSD finished the last session of the year at 1.104.
During today’s Asian trading session, the price dropped below today’s S1 support level and 1.102. Then, at the beginning of the European trading session, it started rising. If the buyers continue generating sufficient demand, the price might reach the EMA 200 and 1.105 today. But if the bears show their strength once again, the price could even fall below 1.101 and reach today’s S2.
GBPUSD
The GBPUSD was really volatile yesterday as well. First, during the Asian trading session, the price managed to rise above the EMA 77 and 1.277. Then, in the morning, it started falling. It even reached 1.27 one hours after the start of the European trading session. After that, it started rising once again. The price went up above 1.276 in the late afternoon. Right after that, it started falling once again. In consequence, the GBPUSD finished the last session of the year a little above the EMA 77, slightly below 1.275.
During the first hours of today’s Asian trading session, the price dropped below 1.271. Then, it started rising. If the buyers continue generating sufficient demand, the price might even reach 1.278 today. But if the bears counterattack, the price could return below the EMA 77 and 1.272.
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