Yesterday was a really volatile session. Both EURUSD and GBPUSD showed mixed sentiment. Today the EURUSD is rising a bit, but the GBPUSD is falling. From the data front, the CB consumer confidence in February in the US will be published. Anyway, let’s move on to the analysis:
Yesterday was a really volatile session. First, during the Asian trading session, the EURUSD rose high above the R1 resistance level. Then it dropped heavily and finished the session a little above 1.13. Today the price is rising, though. If the buyers continue generating sufficient demand, the price might go up above the Pivot Point and reach the EMA 200 today. But if the bears counterattack, the price could fall below 1.13.
The GBPUSD was also really volatile yesterday. First the price rose above 1.363. Then it dropped significantly and finished the session slightly below 1.36. Today it is going down even more. If the buyers don’t generate some serious appetite soon, the price could fall to 1.355 today. But if they do, the price might reach the EMA 77 and 1.36.