Yesterday both EURUSD and GBPUSD rose strongly. Today both currency pairs are showing mixed sentiment. From the data front, all eyes will be focused on the nonfarm payrolls and the unemployment rate in the US in May. Anyway, let’s move on to the analysis:
Yesterday was a really interesting session. First, the EURUSD dropped below 1.067. Then, at the beginning of the European trading session, the price started rising strongly. In consequence, it finished the day high above the R1 resistance level, at 1.076.
During today’s Asian trading session the EURUSD rose above 1.077. However, at the beginning of the European trading session, the price started going down. If the buyers don’t generate some serious appetite soon, the price could drop below 1.075. But if they do, the price might rise above 1.078 today.
The GBPUSD also showed some real strength yesterday. However, during the Asian trading session, the price went down below the EMA 77. Then, at the beginning of the European trading session, it started rising strongly. The price even went up above 1.253 in the late afternoon. During the last hours of the American trading session, it fell a bit, though. In consequence, the GBPUSD finished the day slightly above 1.252.
During the first hours of today’s Asian trading session, the price managed to rise above 1.254. Then it started going down, though. If the buyers don’t generate some serious appetite soon, the price could drop to 1.25. But if they do, the price might rise above 1.255 today.