Yesterday both EURUSD and GBPUSD dropped heavily. Today both Forex pairs are rising, though. 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

The EURUSD dropped heavily yesterday. The price finished the session below the S1 support level, at 0.975. However, it is rising today. If the buyers continue generating firm demand, the price might go up above 0.98 today. But if the bears counterattack, the price could fall below 0.974.

EURUSD

GBPUSD

The GBPUSD also dropped deeply yesterday. The price finished the session a little above 1.116. However, it is rising today. If the buyers continue generating firm demand, the price might even reach the EMA 77. But if the bears counterattack, the price could fall to 1.115.

GBPUSD