Yesterday both EURUSD and GBPUSD managed to rise. Today both currency pairs are going up even more. What can they do next? Let’s try to answer that question in an analysis:
EURUSD
Yesterday was a really interesting session. First, during the Asian trading session, the EURUSD dropped below 1.095. Then, in the morning, the price started rising. It even went up above 1.097 an hour before noon. After that, it started falling. In the early afternoon, the price returned below 1.095. However, at the beginning of the American trading session, it started rising strongly once again. In consequence, the EURUSD finished the day a little below the R1 resistance level and 1.10.
During today’s Asian trading session, the price rose above today’s R1 and 1.102. However, 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 1.099. But if they do, the price might rise above 1.103 today.
GBPUSD
The GBPUSD also was really volatile yesterday. First, the price dropped to 1.275. Then, at the beginning of the American trading session, it started rising strongly. In consequence, the price finished the day slightly below 1.286.
During today’s Asian trading session, the GBPUSD rose above 1.291. However, at the beginning of the European trading session, the price started falling. If the buyers don’t generate some serious appetite soon, the price could drop to 1.285. But if they do, the price might reach 1.292 today.
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