Yesterday the US dollar showed real strength, which means that both EURUSD and GBPUSD dropped deeply. Today the EURUSD is showing mixed sentiment, but the GBPUSD is rising. From the data front, the U.S. Federal Open Market Committee (FOMC) minutes from the last meeting will be published. Anyway, let’s move on to the analysis:
The EURUSD dropped deeply yesterday. The price finished the session below the S4 support level, slightly above 1.026. Today it is showing mixed sentiment. If the bulls take control over the market, the price might rise above 1.03 today. But if the bears show their strength once again, the price could fall to 1.022.
The GBPUSD also dropped deeply yesterday. The price finished the session slightly above 1.195. However, it is rising today. If the buyers continue generating firm demand, the price might go up above the EMA 77 and 1.20. But if the bears counterattack, the price could even fall to 1.19.