Yesterday both EURUSD and GBPUSD went down a bit. Today both currency pairs are rising strongly, though. What can they do next? Let’s try to answer that question in an analysis:
EURUSD
The EURUSD went down a bit yesterday. The price finished the session slightly above 0.999. However, it is rising strongly today. The price is already above the R2 resistance level and 1.009. If the buyers continue generating firm demand, the price might reach 1.012 today. But if the bears counterattack, the price could return below 1.005.
GBPUSD
The GBPUSD also went down a bit yesterday. The price finished the session exactly at 1.15, a little below the EMA 77. However, it is rising strongly today. The price is already above 1.161. If the buyers continue generating firm demand, the price might go up above 1.165. But if the bears counterattack, the price could return below 1.158.
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