On Friday both EURUSD and GBPUSD went down. Today the EURUSD is rising and the GBPUSD is showing mixed sentiment. What can they do next? Let’s try to answer that question in an analysis:
EURUSD
Friday was a really interesting session. First, during the early hours of the Asian trading session, the EURUSD managed to rise above 1.098. Then, the price started falling significantly. It even dropped below the S1 support level and 1.094 in the early afternoon.
After that, the price started rising strongly. It returned above 1.098 at the beginning of the American trading session. Right after that, the price started falling once again. In consequence, the EURUSD finished the day at 1.095.
During the first hours of today’s Asian trading session, the price reached 1.094. Then, it started rising. Three hours later, the price even went up above the EMA 200 and 1.096. After that, it started falling once again. If the buyers don’t generate some serious appetite soon, the price could drop below 1.094 today. But if they do, the price might even reach 1.098 and today’s R1 resistance level.
GBPUSD
The GBPUSD also was really volatile on Friday. First, during the early hours of the Asian trading session, the price managed to rise above 1.278. Then, it started falling significantly. The price even dropped below 1.272 in the early afternoon. After that, it started rising strongly. The price returned above 1.278 at the beginning of the American trading session. Right after that, it started falling once again. In consequence, the GBPUSD finished the day slightly above 1.274.
During the first hours of today’s Asian trading session, the price dropped below 1.273. Then, it started rising. Three hours later, the price even went up above the EMA 77 and 1.276. After that, it started falling once again. If the buyers don’t generate some serious appetite soon, the price could even reach 1.272 today. But if they do, the price might reach 1.277.
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