Yesterday both EURUSD and GBPUSD went down. Today both currency pairs are falling even more. What can they do next? Let’s try to answer that question in an analysis:
EURUSD
Yesterday was a really interesting session. First, at the beginning of the Asian trading session, the EURUSD managed to rise above 1.089. Then, the price started falling. It even dropped below the S1 support level and 1.081 at the beginning of the American trading session. After that, the price started rising. In consequence, the EURUSD finished the day at the S1, slightly above 1.083.
During today’s Asian trading session, the price dropped below 1.081. Then, at the beginning of the European trading session, it started rising slowly. If the buyers continue generating sufficient demand, the price might go up above the Pivot Point and reach 1.085 today. But if the bears counterattack, the price could fall below 1.079.
GBPUSD
The GBPUSD also was really volatile yesterday. First, at the beginning of the Asian trading session, the price managed to rise above 1.272. Then, it started falling heavily. The price even dropped below 1.261 at the beginning of the American trading session. After that, it started rising. In consequence, the price finished the day a little above 1.263.
During today’s Asian trading session, the GBPUSD dropped below 1.261. Then, at the beginning of the European trading session, it started rising slowly. If the buyers continue generating sufficient demand, the price might go up above 1.264 and reach the EMA 77. But if the bears counterattack, the price could fall below 1.259.
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