Yesterday both EURUSD and GBPUSD went down. Today both currency pairs are rising, though. From the data front, the GDP in Q3 in the Eurozone will be published. Anyway, let’s move on to the analysis:
EURUSD
Yesterday was a really interesting session. First, the EURUSD dropped below 1.078. Then, in the early afternoon, the price started rising. It went up above 1.08 at the beginning of the American trading session. After that, the price started falling significantly. It even dropped below the S1 support level and 1.076 in the evening. However, during the last two hours of yesterday’s session, the price managed to rise a bit. In consequence, the EURUSD finished the day slightly below 1.077.
During today’s Asian trading session, the price dropped below 1.076. Then, in the morning, it started rising. The price is already above the Pivot Point. If the buyers continue generating sufficient demand, the price might even go up above today’s R1 and reach 1.08. But if the bears counterattack, the price could return below 1.076.
GBPUSD
The GBPUSD also was really volatile yesterday. First, during the Asian trading session, the price managed to rise above 1.261. Then, in the morning, it started falling. The price even reached 1.255 in the evening. However, during the last two hours of yesterday’s session, it managed to rise a bit. In consequence, the GBPUSD finished the day a little below 1.256.
During today’s Asian trading session, the price dropped below 1.255. Then, in the morning, it started rising. Right now the bulls are attacking the EMA 77. If they do it successfully, the price might even go up above 1.26 today. But if they fail, the price could return below 1.255.
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