Yesterday both EURUSD and GBPUSD went down. Today both currency pairs are rising, 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 Asian trading session, the EURUSD rose above the R1 resistance level and 1.114. Then, at the beginning of the European trading session, it started falling heavily. In consequence, the price finished the day significantly below the S2 support level, slightly above 1.106.
Today, the EURUSD is rising, though. The price is already above 1.107. If the buyers continue generating firm demand, the price might go up above the Pivot Point and even reach 1.111 today. But if the bears counterattack, the price could drop below 1.106.
GBPUSD
The GBPUSD also was really volatile yesterday. First, during the Asian trading session, the price managed to rise above the EMA 77 and 1.288. Then, at the beginning of the European trading session, it started falling. In consequence, the price finished the day a little above 1.282.
During the first hours of today’s Asian trading session, the GBPUSD dropped below 1.281. Then, the price started rising significantly. It is already above 1.286. If the buyers continue generating firm demand, the price might even reach 1.29 today. But if the bears counterattack, the price could return below the EMA 77 and 1.284.
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