Yesterday the EURUSD managed to rise, but the GBPUSD went down. Today both currency pairs are rising, though. From the data front, the CPI and core CPI in the Eurozone in November will be published. Anyway, let’s move on to the analysis:
EURUSD
Yesterday was a really interesting session. First, the EURUSD rose above the Pivot Point and 1.093. Then, at the beginning of the American trading session, it started falling. In consequence, the price finished the day a little above 1.092.
Today, the EURUSD is rising, though. It is already above 1.093. If the buyers continue generating sufficient demand, the price might go up above 1.095 and even reach today’s R2 resistance level. But if the bears counterattack, the price could drop below the Pivot Point and reach 1.091 today.
GBPUSD
The GBPUSD was even more volatile yesterday. First, during the Asian trading session, the price managed to rise above the EMA 77 and 1.27. Then, at the beginning of the European trading session, it started falling. The price even dropped below 1.263 in the late afternoon. After that, it started rising once again. In consequence, the GBPUSD finished the first session of the week slightly below 1.265.
Today, the price is going up even more. It is already above the EMA 77. If the buyers continue generating sufficient demand, the price might even reach 1.271 today. But if the bears counterattack, the price could drop to 1.263.
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