Yesterday the EURUSD went down and the GBPUSD showed mixed sentiment. Today the EURUSD is showing mixed sentiment, but the GBPUSD is falling. From the data front, all eyes will be focused on the European Central Bank interest rate decision and press conference. Anyway, let’s move on to the analysis:
Yesterday was a really interesting session. First, during the early hours of the Asian trading session, the EURUSD managed to rise above 1.076. Then, the price started falling. It even dropped below the EMA 200 and 1.073 at noon. After that, the price started rising once again. It even returned above the Pivot Point and 1.076 at the beginning of the American trading session. Right after that, the price started falling one more time. In consequence, the EURUSD finished the day a little below 1.073.
During today’s Asian trading session, the price managed to rise above 1.075. Then, in the morning, it started falling. Right now the bulls are trying to defend the EMA 200 and the Pivot Point. If they do it successfully, the price might bounce and return above 1.075. But if they fail, the price could even drop to 1.072 today.
The GBPUSD also was really volatile yesterday. First, during the early hours of the Asian trading session, the price managed to rise above the EMA 77 and 1.25. Then, it started falling. The price even reached 1.244 at the beginning of the European trading session. After that, it started rising once again. The price even reached 1.251 at the beginning of the American trading session. However, it went down one more time in the evening. In consequence, the GBPUSD finished the day slightly above the EMA 77, at 1.249.
During today’s Asian trading session, the price reached 1.25. Then, in the morning, it started falling. It is already below 1.248. If the buyers don’t generate some serious appetite soon, the price could even drop below 1.246 today. But if they do, the price might return above the EMA 77 and 1.249.