Yesterday was a really volatile session. In the end, both EURUSD and GBPUSD rose significantly. Today both currency pairs are falling deeply, though. What can they do next? Let’s try to answer that question in an analysis:
EURUSD
Yesterday was a really interesting session. First, during the early hours of the Asian trading session, the EURUSD managed to go up above the Pivot Point. Then, the price started falling significantly. It even dropped below the S2 support level in the morning. However, at the beginning of the European trading session, the price started rising strongly. It even went up above the R1 resistance level and the EMA 200 in the early afternoon. After that, the price started falling once again and dropped below the Pivot Point, though. But in the evening, it managed to rise one more time. In consequence, the EURUSD finished the session at the R1, slightly above 1.073.
However, the price is falling deeply today. It is already below today’s S1 support level and 1.068. If the buyers don’t generate some serious appetite soon, the price could drop below 1.066 today. But if they do, the price might return above today’s S1 and 1.069.
GBPUSD
The GBPUSD also was really volatile yesterday. First, during the early hours of the Asian trading session, the price managed to go up above 1.237. Then, it started falling significantly. It even dropped below 1.233 in the morning. However, at the beginning of the European trading session, the price started rising strongly. It even rose above 1.244 in the early afternoon. After that, the price started going down once again. It dropped below 1.239 in the early evening. During the last hours of yesterday’s session, the price managed to rise one more time, though. In consequence, the GBPUSD finished the session a little above 1.241.
During the first hours of today’s Asian trading session, the price went up above 1.242. Then it started falling deeply. The price is already below 1.237. If the buyers don’t generate some serious appetite soon, the price could drop below 1.234 today. But if they do, the price might return above the EMA 77 and 1.239.
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