On Friday the EURUSD showed mixed sentiment and the GBPUSD went down. Today both Forex pairs are falling, but the EURUSD opened significantly higher after the weekend. What can they do next? Let’s try to answer that question in an analysis:
The EURUSD showed mixed sentiment on Friday. The price finished the last session of the week slightly below 1.088. However, after the weekend, it opened much higher, at 1.092. During the first hours of today’s Asian trading session the price returned below 1.088, but in the morning it started rising. Right now the price is above the R1 resistance level and 1.09. If the buyers continue generating firm demand, the price might reach today’s R2. But if the bears counterattack, the price could return below 1.088.
The GBPUSD went down on Friday. The price finished the last session of the week slightly above 1.303. Today it is falling even more. If the buyers don’t generate some serious appetite soon, the price could drop below 1.30. But if they do, the price might rise above the EMA 77.