Yesterday was a really volatile session. In the end, the EURUSD went down, but the GBPUSD managed to rise. Today both forex pairs are going up. From the data front, all eyes will be focused on the Fed interest rate decision and press conference right after the publication. Anyway, let’s start the analysis:
Yesterday was a really volatile session. First the EURUSD rose above the R1 resistance level and 1.131. Then it dropped heavily and finished the session a little above the S1 support level. However, it is going up today. If the buyers continue generating firm demand, the price might rise above the EMA 200 and 1.129 today. But if the bears counterattack, the price could fall below 1.125.
The GBPUSD rose significantly yesterday. The price finished the session at the EMA 77, above 1.322. Today it is going up even more. If the buyers continue generating firm demand, the price might even reach 1.33 today. But if the bears counterattack, the price could drop below 1.324.