On Friday the US dollar got some real strength. In consequence both EURUSD and GBPUSD dropped heavily. Today, both Forex pairs are going down even more. From the data front, existing home sales in October in the US will be published. Anyway, let’s move on to the analysis:

EURUSD

The EURUSD dropped heavily on Friday. The price finished the last session of the week below the S2 support level and 1.129.Today it is going down even more. If the buyers don’t generate some serious appetite soon, the price could fall below 1.125 today. But if they do, the price might rise above the Pivot Point and 1.13.

EURUSD

GBPUSD

The GBPUSD also dropped deeply yesterday. The price finished the week a little above 1.344. today it is going down even more. If the buyers don’t generate some serious appetite soon, the price could fall below 1.34 today. But if they do, the price might rise above the EMA 77.

GBPUSD