Yesterday both EURUSD and GBPUSD rose significantly. Today both currency pairs are falling, though. 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 rose above the R1 resistance level and 1.074. Then, in the morning, the price started falling. It even dropped below 1.072 in the early afternoon. Right after that, the price started rising once again. It even went up above 1.075 during the American trading session. However, in the late afternoon, the price started falling a bit. In consequence, the EURUSD finished the day a little below 1.075.
Today, the price is falling heavily. It is already below 1.072. If the buyers don’t generate some serious appetite soon, the price could drop below today’s S1 support level and reach 1.071. But if they do, the price might return above 1.073 and reach the EMA 200 today.
GBPUSD
The GBPUSD also was really volatile yesterday. First, the price rose above 1.254. Then, at the beginning of the American trading session, it started falling. In consequence, the price finished the day a little below 1.251.
During today’s Asian trading session, the GBPUSD managed to rise above 1.252. Then, at the beginning of the European trading session, it started falling. The price is already below 1.248. If the buyers don’t generate some serious appetite soon, the price could even drop to 1.246 today. But if they do, the price might reach 1.25 today.
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