Yesterday both EURUSD and GBPUSD went down. Today, the EURUSD is rising slowly and the GBPUSD is showing mixed sentiment. From the data front, the ADP nonfarm employment change in the US in September will be published. Anyway, let’s move on to the analysis:
EURUSD
Yesterday was a really interesting session. First, during the Asian trading session, the EURUSD dropped below 1.046. Then, in the morning, the price started rising. It even went up above 1.049 at the beginning of the European trading session. After that, the price started falling once again. It even dropped below 1.045 in the afternoon. Right after that, the price started rising one more time. In consequence, the EURUSD finished the session slightly above 1.046.
During today’s Asian trading session, the price reached 1.045. Then, at the beginning of the European trading session, it started rising. The price is already above the Pivot Point and 1.047. If the buyers continue generating sufficient demand, the price might even reach today’s R1 resistance level and 1.049. But if the bears counterattack, the price could return to 1.045.
GBPUSD
The GBPUSD also was really volatile yesterday. First, the price dropped below 1.206. Then, in the early afternoon, it started rising. The price even went up above 1.209 at the beginning of the American trading session. After that, it started falling once again. In consequence, the GBPUSD finished the day slightly below 1.208.
During today’s Asian trading session, the price dropped below 1.204. 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 77 and 1.209. But if the bears counterattack, the price could return below 1.204.
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