Yesterday both EURUSD and GBPUSD went down. Today both currency pairs are falling heavily, 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 early hours of the Asian trading session, the EURUSD managed to rise above 1.099. Then, in the morning, the price dropped below 1.098. However, at the beginning of the European trading session, it started going up significantly. The price even rose above 1.101 in the early afternoon. After that, it started falling heavily, though. The price even dropped below 1.095 in the late afternoon. Then, it started going up a bit. In consequence, the EURUSD finished the session slightly below 1.096.
Today, the price is falling deeply, though. It is already significantly below today’s S2 support level. Right now the bulls are trying to defend 1.086. If they do it successfully, the price might reach 1.089 today. But if they fail, the price could even drop to 1.084.
GBPUSD
The GBPUSD also was really volatile yesterday. First, during the Asian trading session, the price dropped below 1.274. Then, at the beginning of the European trading session, it started rising strongly. The price even went up above 1.279 at noon. After that, it started falling heavily, though. It even dropped below 1.273 in the early evening. Then, during the last hours of the American trading session, the price started going up once again. In consequence, the GBPUSD finished the day a little above 1.274.
Today, the price is falling significantly, though. Right now the bulls are trying to defend 1.27. If they do it successfully, the price might rise above 1.272 today. But if they fail, the price could even drop to 1.268.
SSL Secured