Yesterday, the US dollar showed some real strength. In consequence, both EURUSD and GBPUSD dropped significantly. The GBPUSD even finished the session below 1.379. Today the GBPUSD is going down even more, but the EURUSD is showing mixed sentiment. From the data front, JOLTs job openings in July will be published in the US. Anyway, let’s start the analysis:
Yesterday the EURUSD dropped significantly. The price finished the session at the S2 support level. During today’s Asian session it dropped even more, but this morning it started rising. If the buyers continue generating sufficient demand, the price might rise above the Pivot Point and the EMA 200 today. But if the bears show their strength once again, the price could fall below today’s S1.
The GBPUSD also dropped heavily yesterday. The price finished the session below 1.379.Today it is going down even more. If the buyers don’t generate some serious appetite, the price could fall below 1.375 today. But if they do, the price might rise to the EMA 77.