Yesterday the EURUSD went down, but the GBPUSD managed to rise. Today, both Forex pairs are rising, 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 Asian trading session, the EURUSD rose above the R1 resistance level and 1.09. Then, in the morning, it started falling. In consequence, the price finished the session below the Pivot Point, a little above 1.088.
During today’s Asian trading session, the EURUSD rose above today’s R1 and 1.091. Then, in the morning, it started falling. If the buyers don’t generate some serious appetite soon, the price could drop below 1.09 and reach the EMA 200. But if they do, the price might reach 1.092 and today’s R2.
GBPUSD
The GBPUSD also was really volatile yesterday. First, during the Asian trading session, the price managed to rise above 1.272. Then, in the morning, it started falling. The price even dropped below 1.269 at the beginning of the European trading session. After that, it started rising once again. The price even went up above 1.273 in the late afternoon. Right after that, it started falling one more time. In consequence, the GBPUSD finished the session slightly above the EMA 77, a little below 1.271.
During today’s Asian trading session, the price managed to rise above 1.274. Then, in the morning, it started falling. If the buyers don’t generate some serious appetite soon, the price might even reach 1.276 today. But if the bears counterattack, the price could drop below 1.272 and reach the EMA 77.
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