Yesterday both EURUSD and GBPUSD went down. Today both currency pairs are falling even more. What can they do next? Let’s try to answer that question in an analysis:
The EURUSD went down yesterday. The price finished the session below the Pivot Point, exactly at 1.10. During today’s Asian trading session, the price dropped even more, but this morning it started rising. If the buyers continue generating sufficient demand, the price might reach the EMA 200 and 1.101 today. But if the bears show their strength once again, the price could fall below the S1 support level.
The GBPUSD dropped heavily yesterday. The price finished the session below the EMA 77, exactly at 1.32. Today it is going down even more. If the buyers don’t generate some serious appetite soon, the price could fall below 1.315 today. But if they do, the price might rise above the EMA 77.