Yesterday the US dollar showed real strength. In consequence, both EURUSD and GBPUSD dropped heavily. Today both Forex pairs are going down even more. What can they do next? Let’s try to answer that question in an analysis:

EURUSD

The EURUSD dropped deeply yesterday. The price finished the session significantly below the S2 support level, slightly above 1.003. Today it is going down even more. If the buyers don’t generate some serious appetite soon, the price could fall below 1.000 today. But if they do, the price might return above 1.003.

EURUSD

GBPUSD

The GBPUSD also dropped deeply yesterday. The price finished the session a little below 1.189. Today it is going down even more. If the buyers don’t generate some serious appetite soon, the price could even fall to 1.18 today. But if they do, the price might return above 1.186.

GBPUSD