On Friday the EURUSD showed mixed sentiment, but the 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 1.089. Then, the price started falling heavily. It even went down below the S1 support level and 1.085 at the beginning of the American trading session. Right after that, the price started going up. In consequence, the EURUSD finished the last session of the week a little above 1.087.
Today, the price is rising. It is already above 1.088. If the buyers continue generating sufficient demand, the price might go up above today’s R1 resistance level and reach 1.09. But if the bears counterattack, the price could drop below 1.087 and reach the Pivot Point today.
GBPUSD
The GBPUSD also was really volatile on Friday. First, during the early hours of the Asian trading session,the price managed to rise 1.276. Then, it started falling heavily. The price even dropped below 1.269 at the beginning of the American trading session. Right after that, it started rising. The price even went up above 1.275 in the early evening. However, during the last hours of Friday’s trading session, it started falling once again. In consequence, the GBPUSD finished the day slightly below 1.274, a little above the EMA 77.
During the first hours of today’s Asian trading session, the price reached 1.275. Then, it started falling. The price even dropped below 1.273 at the beginning of the European trading session. After that, it started rising once again, though. If the buyers continue generating sufficient demand, the price might even go up above 1.275 today. But if the bears counterattack, the price could fall to 1.272.
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