Yesterday both EURUSD and GBPUSD went down. However, both Forex pairs are rising today. From the data front, all eyes will be focused on the Federal reserve interest rate decision and press conference in the US today. Anyway, let’s move on to the analysis:
The EURUSD dropped deeply yesterday. The price finished the session significantly below the S2 support level, slightly below 1.012. However, it is rising today. The price is already above 1.014. If the buyers continue generating firm demand, the price might go up above the Pivot Point and reach 1.017. But if the bears counterattack, the price could fall to 1.01.
The GBPUSD also went down yesterday, The price finished the session at the EMA 77, slightly below 1.203. However, it is rising today. If the buyers continue generating firm demand, the price might reach 1.208. But if the bears counterattack, the price could drop below the EMA 77 and reach 1.202.