On Friday both EURUSD and GBPUSD showed mixed sentiment. Today, the EURUSD is rising, but the GBPUSD is still 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 1.077. Then, the price started rising. It even went up above the Pivot Point and reached the EMA 200 at the beginning of the American trading session. Right after that, the price started falling, though. One hour later, it returned below 1.077. However, during the second part of the American trading session, the price managed to rise once again. In consequence, the EURUSD finished the day exactly at 1.08.
Today, the price is still rising. It is already above 1.081. If the buyers continue generating firm demand, the price might go up above the EMA 200 and reach today’s R1 resistance level. But if the bears counterattack, the price could drop below the Pivot Point and 1.08.
GBPUSD
The GBPUSD also was really volatile on Friday. First, during the Asian trading session, the price dropped below 1.256. Then, in the morning, it started rising. The price even went up above the EMA 77 and 1.265 at the beginning of the American trading session. Right after that, it started falling, though. One hour later, the price even dropped below 1.255. However, during the second part of the American trading session, it managed to rise once again. In consequence, the GBPUSD finished the day a little below 1.259.
During today’s Asian trading session, the price managed to rise above 1.26 and reached the EMA 77. However, at the beginning of today’s European trading session, it started falling. If the buyers don’t generate some serious appetite soon, the price could drop below 1.256. But if they do, the price might go up above the EMA 77.
SSL Secured