Welcome to Extreme Investor Network, where we bring you the latest insights and analysis on the stock market, trading, and all things Wall Street. In today’s blog post, we will be discussing the GBP/USD and EUR/USD currency pairs, as well as the upcoming speech from ECB President Christine Lagarde.
Starting with the GBP/USD pair, we see that key support levels lie at $1.32283, with further levels at $1.31830 and $1.31469. The 50-day EMA at $1.31853 provides strong near-term support, indicating a positive outlook. However, a break below $1.32720 could trigger a shift towards a bearish trend.
Turning our attention to the EUR/USD pair, it is currently trading at $1.11759, maintaining a slightly bullish trend. The pivot point at $1.11631 is acting as a crucial support level, with immediate resistance at $1.12007, $1.12288, and $1.12558. Key support levels can be found at $1.11257 and $1.10933.
In addition to these technical forecasts, investors are eagerly awaiting ECB President Christine Lagarde’s speech. Earlier data showed a mixed economic picture in the Eurozone, with Germany’s current account surplus narrowing and the PPI for September in line with expectations. Market participants are closely watching these indicators and Lagarde’s speech for insights into the ECB’s monetary stance amidst concerns about economic growth.
Stay tuned to Extreme Investor Network for more updates and in-depth analysis on the stock market, trading strategies, and all things Wall Street. Remember, knowledge is power in the world of investing.