Yesterday both EURUSD and GBPUSD went down. Today both currency pairs are falling even more. From the data front, all eyes will be focused on the U.S. Federal Open Market Committee’s interest rate decision and the press conference. Anyway, let’s move on to the analysis:
EURUSD
Yesterday was a really interesting session. First, during the Asian trading session, the EURUSD dropped below the S2 support level and 1.084. Then, 60 minutes before noon, it started rising. In consequence, the price finished the session slightly below 1.087.
During the first hours of today’s Asian trading session, the EURUSD dropped below 1.086 and reached the Pivot Point. Then, the price started rising. It even went up above 1.087 in the morning. After that, the price started falling. If the buyers don’t generate some serious appetite soon, the price could drop to today’s S1 and 1.084. But if they do, the price might return above 1.087.
GBPUSD
The GBPUSD also was really volatile yesterday. First, during the Asian trading session, the price dropped below 1.267. Then, 60 minutes before noon, it started rising. The price even went up above 1.273 in the late afternoon. However, it dropped a bit in the evening. In consequence, the GBPUSD finished the session slightly above the EMA 77, at 1.272.
Today, the price is falling even more. It is already below 1.27. If the buyers don’t generate some serious appetite soon, the price could drop to 1.267 today. But if they do, the price might return above the EMA 77 and 1.272.
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