Yesterday both EURUSD and GBPUSD managed to rise. Today the EURUSD is going down, but the GBPUSD is showing mixed sentiment. From the data front, all eyes will be focused on the nonfarm payrolls and unemployment rate in June. 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 the S1 support level and 1.084. Then, in the morning, the price started rising strongly. It even went up above the R1 resistance level and 1.089 in the early afternoon. After that, the price started falling. It even returned below the S1 and 1.084 one hour after the beginning of the American trading session. Then, the price started going up once again. In consequence, the EURUSD finished the day a little below 1.089.
During the first hours of today’s Asian trading session, the price dropped to the EMA 200. After that, it started rising a bit. Then, at the beginning of the European trading session, the price started falling once again. It is already below 1.088. If the buyers don’t generate some serious appetite soon, the price could go down below the Pivot Point and reach 1.087. But if they do, the price might rise above 1.089.
GBPUSD
The GBPUSD also was really volatile yesterday. First, the price managed to rise to 1.278. After that, In the early afternoon, it started falling heavily. The price even dropped below 1.268 one hour after the beginning of the American trading session. Then, it started going up once again. In consequence, the GBPUSD finished the day slightly below 1.274.
During today’s Asian trading session, the price dropped below 1.273. Then, in the morning, it rose above 1.274. After that, at the beginning of the European trading session, the price started falling once again. If the buyers don’t generate some serious appetite soon, the price could go down below the EMA 77 and 1.272. But if they do, the price might reach 1.276.
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