Yesterday the EURUSD went down and the GBPUSD showed mixed sentiment. Today, the EURUSD is falling even more, but the GBPUSD is rising. From the data front, the CPI and core CPI in the US in January will be published. Anyway, let’s move on to the analysis:
EURUSD
Yesterday was a really interesting session. First, during the Asian trading session, the EURUSD rose above the R1 resistance level and 1.08. Then, at the beginning of the European trading session, the price started falling heavily.
It even dropped below the S1 support level and 1.078 at the beginning of the American trading session. After that, the price started rising once again. In consequence, the EURUSD finished the day a little above 1.077.
During the first hours of today’s Asian trading session, the price reached 1.076. Then, it started rising. The price even went up above the EMA 200 in the morning. After that, it started falling once again, though. If the buyers don’t generate some serious appetite soon, the price could even drop below 1.075 and reach today’s S1. But if they do, the price might reach the Pivot Point today.
GBPUSD
The GBPUSD also was really volatile yesterday. First, during the Asian trading session, the price managed to rise above 1.265. Then, at the beginning of the European trading session, it started falling. The price even dropped below the EMA 77 and 1.261 at the beginning of the American trading session. After that, it started rising once again. In consequence, the GBPUSD finished the day a little above the EMA 77, slightly below 1.263.
During today’s Asian trading session, the price dropped below 1.261. Then, in the morning, it started rising significantly. The price even went up above 1.265 at the beginning of the European trading session. After that, it started falling one more time, though. If the buyers don’t generate some serious appetite soon, the price could drop below 1.263 and reach the EMA 77 today. But if they do, the price might even reach 1.266.
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