On Friday both EURUSD and GBPUSD went down. Today, both currency pairs are showing mixed sentiment. What can they do next? Let’s try to answer that question in an analysis:
EURUSD
Friday was a really interesting session. First, during the Asian trading session, the EURUSD dropped below the S1 support level and 1.062. Then, at the beginning of the European trading session, the price started rising. It even went up above the EMA 200 and reached 1.067 at the beginning of the American trading session. After that, the price started falling once again, though. In consequence, the EURUSD finished the session a little above 1.064.
During the first hours of today’s Asian trading session, the price managed to rise above 1.065. Then, it started falling. In the morning, the price dropped below the Pivot Point. After that, it started rising once again, though. If the buyers continue generating sufficient demand, the price might even reach the EMA 200 today. But if the bears counterattack, the price could fall to 1.063.
GBPUSD
The GBPUSD also was really volatile on Friday. First, during the Asian trading session, the price dropped below 1.224. Then, at noon, it started rising. The price managed to go up above 1.228 at the beginning of the American trading session. After that, it started falling once again. In consequence, the GBPUSD finished the session slightly below 1.224.
During today’s Asian trading session, the price showed mixed sentiment. The volatility was really low, though. However, in the morning, it started rising. If the buyers continue generating sufficient demand, the price might go up above the EMA 77 and reach 1.227 today. But if the bears counterattack, the price could even fall to 1.222.
SSL Secured