Yesterday the EURUSD showed mixed sentiment and the GBPUSD went down a bit. Today both currency pairs are falling, though. What can they do next? Let’s try to answer that question in an analysis:
EURUSD
Yesterday was a really interesting session. First, during the first hours of the Asian trading session, the EURUSD managed to rise. The price reached the EMA 200. After that, it started going down. The price reached the Pivot Point in the morning.
Then, during the European trading session, the EURUSD started rising once again. The price even went up above the EMA 200 at noon. However, at the beginning of the American trading session, it started falling one more time. The price even reached the Pivot Point in the afternoon. After that, it was rising a bit, though. In consequence, the EURUSD finished the day a little above 1.081.
Today the price is going down, though. It is already below the S1 support level and 1.08. If the buyers don’t generate some serious appetite soon, the price could drop below 1.078 and reach today’s S2. But if they do, the price might return above 1.081 and reach the Pivot Point.
GBPUSD
The GBPUSD also was really volatile yesterday. First, during the first hours of the Asian trading session, the price managed to rise above 1.247. After that, it started going down. The price even dropped below 1.242 in the morning.
Then, during the European trading session, the GBPUSD started rising once again. The price even reached 1.247 in the early afternoon. However, at the beginning of the American trading session, it started falling one more time. The price even dropped below 1.242 again. After that, in the late afternoon, it started going up. The price even reached the EMA 77 in the evening. Then, it went down a bit. In consequence, the GBPUSD finished the day slightly above 1.243.
Today the price is going down, though. It is already below 1.241. If the buyers don’t generate some serious appetite soon, the price could drop below 1.239. But if they do, the price might return above 1.242.
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