Yesterday both EURUSD and GBPUSD rose significantly. Today the EURUSD is going up even more and the GBPUSD is showing mixed sentiment. From the data front , the U.S. Federal Open Market Committee (FOMC) minutes from the last meeting will be published. Anyway, let’s move on to the the analysis:
The EURUSD rose significantly yesterday. The price finished the session a little below the R1 resistance level, at 1.03. Today it is going up even more. If the buyers continue generating firm demand, the price might rise above today’s $1 and reach 1.034. But if the bears counterattack, the price could drop below 1.031.
The GBPUSD also rose significantly yesterday. The price finished the session slightly above 1.188. Today it is showing mixed sentiment. If the buyers show their strength once again, the price might go up above 1.19 today. But if the bears take control over the market, the price could drop below the EMA 77 and reach 1.186.