Yesterday both EURUSD and GBPUSD rose strongly. However, both currency pairs are going down today. From the data front, the CPI in the Eurozone in August will be published. Anyway, let’s move on to the analysis:
EURUSD
Yesterday was a really interesting session. First, during the Asian trading session, the EURUSD dropped below 1.086. Then, in the morning, the price started rising strongly. It even went up above the R1 resistance level and 1.094 at the beginning of the American trading session. After that, the price started falling, though. In consequence, the EURUSD finished the day a little above the R1 and 1.092.
During the first hours of today’s Asian trading session, the price rose above 1.093. Then, it started falling. The price is already below 1.09. If the buyers don’t generate some serious appetite soon, the price could even drop to today’s S1 support level. But if they do, the price might return above the Pivot Point and reach 1.091.
GBPUSD
The GBPUSD also was really volatile yesterday. First, during the Asian trading session, the price dropped below 1.262 and reached the EMA 77. Then, in the morning, it started rising strongly. The price even went up above 1.274 at the beginning of the American trading session. After that, it started falling, though. In consequence, the GBPUSD finished the day slightly below 1.272.
During the first hours of today’s Asian trading session, the price rose above 1.273. Then, it started falling. If the buyers don’t generate some serious appetite soon, the price could drop below 1.269 and reach the EMA 77 today. But if they do, the price might reach 1.274.
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