29th November 2021 Technical Analysis

EURUSD

EURUSD rose on Friday, and the technical bias is bullish due to higher highs in the recent downtrend.

The pair is currently trading near 1.12890，and multiple resistance levels can be seen above which may prevent the price from rising further.

Resistance level 1: 1.13250

Resistance level 2: 1.13700

Resistance level 3: 1.14300

Below the price, multiple support levels can be seen which may prevent the price from falling.

Support level 1: 1.12650

Support level 2: 1.12300

Support level 3: 1.12000

Today, Germany will announce CPI data for November. Higher data indicate favourable to the euro, so it is bullish for the EURUSD currency pairs, and vice versa.

Looking at the current price trend and economic development, it may be a good trading choice to sell the EURUSD currency pair near the current level.

GBPJPY

GBPJPY fell on Friday, and the technical bias is bearish due to lower lows in the recent downtrend.

The pair is currently trading near 151.709，and multiple resistance levels can be seen above which may prevent the price from rising further.

Resistance level 1: 152.080

Resistance level 2: 152.500

Resistance level 3: 153.100

Below the price, multiple support levels can be seen which may prevent the price from falling.

Support level 1: 151.150

Support level 2: 150.600

Support level 3: 150.000

Today, the UK will announce data on central bank mortgage approvals for October. Higher data indicate favourable to the pound, so the GBPJPY currency pair is bullish, and vice versa.

Looking at the current price trend and economic development, it may be a good trading choice to sell the GBPJPY currency pair near the current level.