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:
EURUSD
Yesterday was a really interesting session. First, during the early hours of the Asian trading session, the EURUSD reached 1.087. Then, the price started rising. It even went up above the Pivot Point and 1.089 in the early afternoon.
After that, the price started falling heavily. It even dropped below the S1 support level and 1.083 in the evening. However, during the last four hours of yesterday’s session, the price managed to rise a bit. In consequence, the EURUSD finished the day at the S1, slightly below 1.085.
During today’s Asian trading session, the price dropped below 1.082. Then, at the beginning of the European trading session, it started rising. If the buyers continue generating sufficient demand, the price might return above 1.084 today. But if the bears show their strength once again, the price could fall below today’s S1 and 1.081.
GBPUSD
The GBPUSD also was really volatile yesterday. First, during the early hours of the Asian trading session, the price dropped below the EMA 77 and 1.271. Then, it started rising. The price even went up above 1.274 at noon. After that, it started falling heavily. The price even reached 1.268 in the late afternoon. However, it managed to rise a bit in the evening. In consequence, the GBPUSD finished the day a little below 1.271.
During the first hours of today’s Asian trading session, the price managed to rise above the EMA 77. Then, it started falling. The price even dropped below 1.268 at the beginning of the European trading session. After that, it started rising, though. If the buyers continue generating sufficient demand, the price might return above 1.27 and reach the EMA 77. But if the bears show their strength once again, the price could even fall below 1.267 today.
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