On Friday both EURUSD and GBPUSD dropped heavily. Today both currency pairs are 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. At first, the EURUSD was rising, it even reached 1.107 in the morning. Then, an hour before the beginning of the European trading session, it started going down. After that, in the afternoon, the US dollar showed some real strength. In consequence, the price finished the last session of the week a little above the S1 support level, slightly below 1.10.
During the first hours of today’s Asian trading session, the price was going down. Then it started rising and in the morning it returned above the EMA 200. If the buyers show their strength in the next hours, the price might go up above the Pivot Point and reach 1.102. But if the bears take control over the market, the price could drop to 1.096.
GBPUSD
The GBPUSD was also rising during the first hours of the Asian trading session. Then, two hours before the beginning of the European trading session, it started falling heavily. In consequence, the price finished the last session of the week slightly below 1.242.
During the first hours of today’s Asian trading session, the price was going down. Then it started rising. If the buyers show their strength today, the price might go up above 1.244 and reach the EMA 77. But if the bears take control over the market, the price could drop to 1.238.
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