On Friday both EURUSD and GBPUSD rose strongly. Today both currency pairs are falling, though. What can they do next? Let’s try to answer that question in an analysis:
EURUSD
Friday was a really interesting session. First, during the Asian trading session, the EURUSD managed to rise above 1.089. Then, at the beginning of the European trading session, the price started falling. One hour later it even dropped below the Pivot Point and 1.087. After that, the price started rising strongly. In consequence, the EURUSD finished the last session of the week high above the R2 resistance level, slightly below 1.097.
Today the price is falling significantly, though. If the buyers don’t generate some serious appetite soon, the price could drop below 1.094 and reach the Pivot Point. But if they do, the price might reach 1.097.
GBPUSD
The GBPUSD also was really volatile on Friday. First, during the Asian trading session, the price dropped below 1.273 and reached the EMA 77. Then, two hours before noon, it started rising strongly. The price even went up above 1.284 in the late afternoon. However, it started falling in the evening. In consequence, the GBPUSD finished the last session of the week at 1.283.
Today the price is falling significantly, though. If the buyers don’t generate some serious appetite soon, the price could drop below the EMA 77 and reach 1.278. But if they do, the price might return above 1.282.
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