Yesterday both EURUSD and GBPUSD rose significantly. Today the EURUSD is going up even more, but the GBPUSD is showing mixed sentiment. From the data front, the GDP in Q1 in the US will be published. Anyway, let’s move on to the analysis:
EURUSD
Yesterday was a really volatile session. First, the EURUSD was rising strongly during the European trading session. In the afternoon, the price even went up above 1.109. However, at the beginning of the American trading session, it started falling. In consequence, the price finished the day exactly at the R1 resistance level, a little above 1.104.
Today it is going up even more. The price is already above 1.105. If the buyers continue generating firm demand, the price might even reach 1.109 today. But if the bears counterattack, the price could drop below the Pivot Point and reach 1.103.
GBPUSD
The GBPUSD also was really volatile yesterday. First, the price was rising strongly during the European trading session. In the afternoon, the price even went up above 1.251. However, at the beginning of the American trading session, it started falling. In consequence, the price finished the day slightly below 1.247.
During today’s Asian trading session the price was going up even more. However, in the morning it started dropping. Right now the price is a little above 1.247. If the bulls take control over the market, the price might even reach 1.25 today. But if the bears show their strength, the price could fall below the EMA 77 and reach 1.245.
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