Yesterday 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
Yesterday was a shocking session. The EURUSD started going down heavily during the Asian trading session. In the late afternoon, the price even dropped below the S2 support level and 1.077. After that, it managed to rise a bit in the evening, though. In consequence, the price finished the session below the S2, at 1.077.
During today’s Asian trading session, the EURUSD fell below 1.076. Then, the price rose above 1.079 in the morning. After that, it started going down once again at the beginning of the European trading session. If the buyers don’t generate some serious appetite soon, the price could even drop to 1.075 today. But if they do, the price might rise above the Pivot Point and reach 1.08.
GBPUSD
The GBPUSD also dropped deeply yesterday. The price started going down heavily during the Asian trading session. In the late afternoon, it even dropped below 1.24. After that, the price managed to rise a bit in the evening, though. In consequence, the GBPUSD finished the session slightly above 1.24.
During today’s Asian trading session, the price fell below 1.24. Then, it rose above 1.242 in the morning. After that, the price went down once again at the beginning of the European trading session. Now it is showing mixed sentiment. If the buyers take control over the market, the price might rise above the EMA 77 and reach 1.244 today. But if the bears show their strength, the price could drop to 1.239.
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