Yesterday was a really volatile session. Both EURUSD and GBPUSD managed to rise. Today, the EURUSD is going up a bit, but the GBPUSD is falling. From the data front, the CPI in September the Eurozone will be published. Anyway, let’s move on to the analysis:
Yesterday, the EURUSD showed some real volatility. First the price rose high above the R2 resistance level. Then it dropped but still finished the session at the R1, a little above 1.363. Today the price is rising a bit. It’s already above the Pivot Point. If the buyers continue generating sufficient demand, the price might reach the R1 today. But if they fail, the price could drop to the EMA 200.
The GBPUSD also was really volatile yesterday. First the price rose above 1.381, then it dropped a bit and finished the session at 1.379. Today it is going down even more. Right now the bulls are trying to defend the EMA 77. If they do it successfully, the price might return above 1.38. But if they fail, the price could go down below 1.375.