Yesterday, the EURUSD showed mixed sentiment and the volatility was rather low. On the other hand, the GBPUSD managed to rise a bit. Today, both Forex pairs are rising strongly, though. From the data front, there will be many important publications today, such as construction PMI in June in the UK, ZEW economic sentiment in July in the Eurozone, and ISM non-manufacturing PMI in June in the US. Anyway, let’s start the analysis:
The EURUSD showed mixed sentiment yesterday and the volatility was rather low. The price finished the session almost exactly at the same level as it started this week. During today’s Asian trading session, the price rose strongly and tested the R2 resistance level. This morning the bears started counterattacking, though. Right now they are trying to get the price below the R1. If they do it successfully, the price could even drop below the Pivot Point. But if the buyers generate some serious appetite, the price might return to the R2.
Yesterday, the GBPUSD managed to rise a bit. The price finished the session above 1.384. Today it is rising even more. Right now the price is above 1.387. If the buyers continue generating firm demand, the price might rise above 1.39 today. But if the bears counterattack, the price could drop to the EMA 77.