On Friday both EURUSD and GBPUSD rose significantly. Today the GBPUSD is going up even more and the EURUSD 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 the Pivot Point and 1.082. Then, the price started falling. It even dropped below 1.08 at noon. After that, the price started rising once again. 90 minutes later, it returned above 1.082.
Right after that, the price started falling one more time. It returned below 1.08 at the beginning of the American trading session. Then, the price started rising strongly. In consequence, the EURUSD finished the day slightly below the R1 resistance level and 1.084.
During today’s Asian trading session, the price rose above today’s R1 and 1.085. Then, at the beginning of the European trading session, it started falling. If the buyers don’t generate some serious appetite soon, the price could drop below the EMA 200 and 1.083 today. But if they do, the price might even reach 1.086.
GBPUSD
The GBPUSD also was really volatile on Friday. First, during the Asian trading session, the price reached 1.264 and the EMA 77. Then, at the beginning of the European trading session, it started falling. The price even dropped below 1.262 one hour before noon. After that, it started rising. The price went up above the EMA 77 and 1.264 in the early afternoon.
Right after that, it started falling significantly. The price even dropped below 1.26 at the beginning of the American trading session. Then, it started rising strongly. The price even rose above 1.266 in the evening. However, during the last 90 minutes of Friday’s session, it dropped a bit. In consequence, the GBPUSD finished the day slightly above 1.265.
During today’s Asian trading session, the price managed to rise above 1.267. Then, at the beginning of the European trading session, it started falling. If the buyers don’t generate some serious appetite soon, the price could drop to the EMA 77 and reach 1,265 today. But if they do, the price might even reach 1.269.
SSL Secured