FX.co ★ Trading plan for EUR/USD and GBP/USD on November 21

Dollar continues to slump as market players anticipate a decrease in the Fed's interest rates due to the recent fall of 20-year US Treasuries from 5.245% to 4.780%. Most likely, both euro and pound will strengthen since the worsening economic situation of the US sparks risk appetite. In fact, today's data on existing home sales may show a further decrease of 1.3%, so dollar may not halt its weakening anytime soon.

EUR/USD extended its upward movement, pushing the quote above the level of 1.0950. It may hit the resistance level of 1.1000 soon.

A similar picture can be seen in GBP/USD as the quote not only recovered from a recent decline but also managed to surpass the resistance level of 1.2500. In the case of further growth, the pair will hit the level of 1.2700.