1st November 2021 Technical Analysis

EURUSD

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

The pair is currently trading near 1.15613，and multiple resistance levels can be seen above which may prevent the price from rising further.

Resistance level 1: 1.15800

Resistance level 2: 1.16150

Resistance level 3: 1.16680

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

Support level 1: 1.15230

Support level 2: 1.14700

Support level 3: 1.14200

On Wednesday, the United States will announce the latest interest rate resolution data. The hawks’ remarks indicate that they are beneficial to the US dollar, so they are negative for 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.

GBPUSD

GBPUSD fell on Friday, and the technical bias is bearish due to lower lows in the recent volatility trend.

The pair is currently trading near 1.36846，and multiple resistance levels can be seen above which may prevent the price from rising further.

Resistance level 1: 1.37050

Resistance level 2: 1.37300

Resistance level 3: 1.37550

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

Support level 1: 1.36650

Support level 2: 1.36380

Support level 3: 1.36050

On Friday, the United States will release the non-agricultural employment report data for October. Higher data of newly created jobs will indicate favourable to the US dollar, so it is negative for the GBPUSD currency pair, and vice versa.

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