Yesterday both EURUSD and GBPUSD rose strongly. The EURUSD went up high above the R2 resistance level and the GBPUSD finished the session above 1.365. Today both Forex pairs are rising even more. From the data front the PPI index in September in the US will be published. Anyway, let’s start the analysis:

EURUSD

Yesterday was a great bullish session for the EURUSD. The price finished the session high above the R2 resistance level, a little below 1.16. Today it is rising even more. If the buyers continue generating firm demand, the price might reach today’s R1. But if the bears counterattack, the price could drop to the Pivot Point.

EURUSD

 

GBPUSD

The GBPUSD also rose strongly yesterday. The price finished the session slightly below 1.366. Today it is rising even more. If the buyers continue generating firm demand, the price might rise above 1.37 today. But if the bears counterattack, the price could drop to the EMA 77.

GBPUSD