Yesterday both EURUSD and GBPUSD managed to rise. Today the EURUSD is showing mixed sentiment and the GBPUSD is falling slowly. The volatility is rather low, though. What can they do next? Let’s try to answer that question in an analysis:
EURUSD
Yesterday was a really interesting session. First, the EURUSD rose above the EMA 200 and 1.078. Then, at the beginning of the American trading session, it started falling slowly. In consequence, the price finished the day at the R1 resistance level and 1.077.
During today’s Asian trading session, the EURUSD managed to rise above 1.078 and reached today’s R1. Then, at the beginning of the European trading session, it started falling. If the buyers don’t generate some serious appetite soon, the price could drop to 1.076 and reach today’s S1 support level. But if they do, the price might even go up above 1.079 today.
GBPUSD
The GBPUSD also was pretty volatile yesterday. First, the price managed to rise above 1.264. Then, at the beginning of the American trading session, it started falling slowly. In consequence, the price finished the day slightly below 1.263.
Today the GBPUSD is falling slowly. It is already below 1.262. Right now the bulls are trying to defend the EMA 77. If they do it successfully, the price might bounce and reach 1.266 today. But if they fail, the price could even drop 1.259.
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