Yesterday was a really volatile session. In the end both EURUSD and GBPUSD rose strongly. However, both Forex pairs are going down today. What can they do next? Let’s try to answer that question in an analysis:
Yesterday was a really volatile session. First, the EURUSD dropped to the S2 support level, then it rose strongly and finished the session slightly above the R2 resistance level and 0.977. However, the price is going down today. If the buyers don’t generate some serious appetite, the price could fall below the Pivot Point and reach 0.972. But if they do, the price might rise above 0.978.
The GBPUSD also rose strongly yesterday. The price finished the session a little below 1.133.However, it is going down today. If the buyers don’t generate some serious appetite, the price could drop below the EMA 77 and 1.123. But if they do, the price might rise above 1.135.