Yesterday was a great bullish session for the EURUSD. The price rose to the R2 resistance level. On the other hand, the GBPUSD showed mixed sentiment. Today both Forex pairs are rising strongly. With little economic data releases of note, today’s focus will be on a number of major central bank speakers. In particular, US Federal Reserve Chairman Jerome Powell is scheduled to speak in the afternoon. Anyway, let’s start the analysis:
Yesterday was a fantastic bullish session for the EURUSD. The price rose greatly and finished the day at the R2 resistance level. Today, it is rising even more. If the buyers continue generating firm demand, the price might go up above the R1 today. But if the bears counterattack, the price could drop to the Pivot Point.
The GBPUSD showed mixed sentiment yesterday. However, the bulls managed to defend the EMA 77 twice. Today the price is rising strongly. Right now it is getting close to 1.38. If the buyers continue generating firm demand, the price might go up above that level today. But if the bears counterattack, the price could drop to the EMA 77.