Yesterday the EURUSD went down, but the GBPUSD managed to rise. Today both currency pairs are going up, though. 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 managed to rise above 1.096. Then, at the beginning of the European trading session, the price started falling. It even dropped below the S1 support level and 1.09 in the evening. However, during the last four hours of yesterday’s session, the price managed to rise a bit. In consequence, the EURUSD finished the day a little above 1.092.
Today the price is rising even more. It is already above 1.094. If the buyers continue generating sufficient demand, the price might even go up above today’s R1 resistance level and reach 1.097. But if the bears counterattack, the price could drop below the Pivot Point and reach 1.09 today.
GBPUSD
The GBPUSD also was really volatile yesterday. First, during the Asian trading session, the price managed to rise above 1.265. Then, at the beginning of the European trading session, it started falling. The price even dropped below 1.262 in the afternoon. After that, it started rising once again. The price even went up above the EMA 77 and 1.267 in the evening. However, during the last four hours of yesterday’s session, it dropped a bit. In consequence, the GBPUSD finished the day slightly above 1.266.
During the first hours of today’s Asian trading session, the price reached the EMA 77. Then, it started rising. It is already above 1.268. If the buyers continue generating sufficient demand, the price might even reach 1.273 today. But if the bears counterattack, the price could drop to the EMA 77 once again.
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