Yesterday both EURUSD and GBPUSD showed mixed sentiment. Today both currency pairs are falling, though. From the data front, the CPI and core CPI in the Eurozone in October will be published. Anyway, let’s move on to the analysis:
EURUSD
Yesterday was a really interesting session. First, during the early hours of the Asian trading session, the EURUSD dropped below 1.083. Then, the price started rising significantly. It even went up above the R1 resistance level and 1.089 at the beginning of the American trading session. After that, the price started falling. In consequence, the EURUSD finished the day a little below the Pivot Point, slightly above 1.085.
Today, the price is going down even more. It is already below 1.084. If the buyers don’t generate some serious appetite soon, the price could fall below today’s S1 support level and reach the EMA 200. But if they do, the price might reach today’s Pivot Point and 1.086.
GBPUSD
The GBPUSD also was really volatile yesterday. First, during the Asian trading session, the price dropped below 1.238. Then, at the beginning of the European trading session, it started rising significantly. The price even went up above 1.245 at the beginning of the American trading session. After that, it started falling. In consequence, the GBPUSD finished the day a little above the EMA 77 and 1.241.
Today, the price is going down even more. It is already below 1.24. If the buyers don’t generate some serious appetite soon, the price could reach 1.235 today. But if they do, the price might return above the EMA 77 and 1.241.
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