Yesterday both EURUSD and GBPUSD dropped heavily. Today both currency pairs are rising, 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 dropped below the S2 support level and 1.09. Then, during the first three hours of the American trading session, the price managed to rise. After that, it fell and reached the S2 once again. During the last hours of yesterday’s session, the price was showing mixed sentiment, though. In consequence, the EURUSD finished the day slightly above the S2 and 1.091.
However, the price is rising today. It is already above 1.093. If the buyers continue generating firm demand, the price might go up above the Pivot Point and reach 1.095 today. But if the bears counterattack, the price could drop below 1.091.
GBPUSD
The GBPUSD also was really volatile yesterday. First, the price dropped below 1.25. Then, in the afternoon, it managed to rise a bit. After that, during the last hours of yesterday’s session, the price was showing mixed sentiment, though. In consequence, the GBPUSD finished the day a little above 1.251.
However, the price is rising today. It is already above 1.253. If the buyers continue generating firm demand, the price might go up above the EMA 77 and even reach 1.256 today. But if the bears counterattack, the price could drop below 1.251.
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