On Friday both EURUSD and GBPUSD went down. Today the EURUSD is showing mixed sentiment and the GBPUSD is rising. What can they do next? Let’s try to answer that question in an analysis:
Friday was a really volatile session. First, the EURUSD dropped below 1.085 and reached the S3 support level. Then, two hours after the beginning of the European trading session, it started rising. In consequence, the price finished the day exactly at 1.089.
After the weekend, the EURUSD opened a bit higher, a little above 1.09. The price has been showing mixed sentiment since then, though. If the buyers take control over the market, the price might rise above the EMA 200 and 1.092 today. But if the bears show their strength, the price could drop below 1.088.
The GBPUSD also was really volatile on Friday. First, the price dropped to 1.268. Then, at the beginning of the European trading session, it started rising. The price even went up above 1.273 in the early afternoon. After that, it started falling, though. The price dropped below 1.27 in the late afternoon. Then, it started rising once again. In consequence, the GBPUSD finished the last session of the week slightly below 1.272.
Today the price is going up, though. It is already above 1.273 and the EMA 77. If the buyers continue generating sufficient demand, the price might even reach 1.277 today. But if the bears counterattack, the prie could return below the EMA 77 and 1.272.