Yesterday both EURUSD and GBPUSD rose strongly. The EURUSD even finished the session slightly below the R3 resistance level. Today both currency pairs are going down a bit, though. From the data front, the CPI in the Eurozone in October will be published. Anyway, let’s move on to the analysis:
EURUSD
Yesterday the EURUSD rose strongly. The price finished the session slightly below the R3 resistance level, a little above 1.168. However, it is going down today. If the buyers don’t generate some serious appetite, the price could drop below the Pivot Point. But if they do, the price might even reach 1.17.
GBPUSD
The GBPUSD also rose strongly yesterday. The price finished the session above 1.379. However, it is going down a bit today. If the buyers don’t generate some serious appetite soon, the price could drop below the EMA 77. But if they do, the price might rise above 1.38.
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