Friday was a shocking session. Both EURUSD and GBPUSD rose very strongly. The EURUSD even finished the week near 1.18. Today both currency pairs are going down a bit, though. What can they do next? Let’s try to answer that question in an analysis:
Friday was an extraordinary bullish session. The EURUSD rose high above the R3 resistance level and finished the week a little below 1.18. However, after the weekend the price started going down a bit. If the buyers don’t generate some serious appetite soon, the price could drop below the Pivot Point. But if they do, the price might rise above 1.18.
The GBPUSD also rose strongly on Friday. The price finished the session near 1.387. However, after the weekend the price opened a bit lower and it is showing mixed sentiment since then. If the buyers take control over the market, the price might rise above 1.39 today. But if the bears show their strength, the price could drop below the EMA 77.