Yesterday both EURUSD and GBPUSD managed to rise. Today the EURUSD is going up even more, but the GBPUSD is showing mixed sentiment. From the data front, all eyes will be focused on the nonfarm payrolls and unemployment rate in October in the US. Anyway, let’s move on to the analysis:
EURUSD
Yesterday was a really interesting session. First, the EURUSD rose above the R2 resistance level and 1.066. Then, at the beginning of the American trading session, it started falling. In consequence, the price finished the day slightly below 1.062.
During today’s Asian trading session, the EURUSD rose above the Pivot Point and 1.063. Then, at the beginning of the European trading session, it started falling. If the buyers don’t generate some serious appetite soon, the price could even drop below 1.06 and reach the EMA 200. But if they do, the price might even go up above 1.065 today.
GBPUSD
The GBPUSD also was really volatile yesterday. First, during the early hours of the Asian trading session, the price rose above 1.219. Then, it started falling. The price even dropped below 1.216 and reached the EMA 77 at the beginning of the European trading session. After that, it started rising strongly. The price even went up above 1.222 at the beginning of the American trading session. Right after that, it started falling once again. Two hours later, the price dropped below 1.217 and reached the EMA 77. Then, it started rising one more time. In consequence, the GBPUSD finished the day a little below 1.22.
During the first hours of today’s Asian trading session, the price fell below 1.219. Then, it started rising. The price even went up above 1.221 at the beginning of the European trading session. After that, it started falling. If the buyers don’t generate some serious appetite soon, the price could drop below the EMA 77 and reach 1.217. But if they do, the price might even reach 1.222 today.
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