Danske Research Team
Danske Bank A/S
Majors
EUR/USD: SELL AT 1.3735 FOR 1.3565 STOP AT 1.3780
USD/JPY: SHORT AT 101.45 FOR 100.81 OBJECTIVE, STOP 101.81
GBP/USD: BUY AT 1.7084 FOR 1.7331 STOP AT 1.7004
USD/CHF: POSS SELL .8880/85
AUD/USD: LONG AT .9395 FOR .9570; REVISED STOP AT .9344
USD/CAD: SELL AT 1.0747 FOR 1.0589 STOP AT 1.0817
Crosses
EUR/JPY: SHORT AT 138.65 FOR 137.38 OBJECTIVE, STOP 139.02
EUR/GBP: SHORT AT .8015 FOR .7887; STOP AT .8065
EUR/CHF: SHORT AT 1.2190 FOR REVISED 1.2123; REVISED STOP AT 1.2179
EUR/CAD: SHORT AT 1.4750 FOR 1.4410 OBJ, REVISED STOP 1.4650
GBP/JPY: REVISED BUY AT 173.25 FOR 175.60; STOP AT 172.35
NZD/USD: LONG AT .8705 FOR .8842; STOP AT .8720
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Editors’ Picks
AUD/USD failed just ahead of the 200-day SMA
Finally, AUD/USD managed to break above the 0.6500 barrier on Wednesday, extending the weekly recovery, although its advance faltered just ahead of the 0.6530 region, where the key 200-day SMA sits.
EUR/USD met some decent resistance above 1.0700
EUR/USD remained unable to gather extra upside traction and surpass the 1.0700 hurdle in a convincing fashion on Wednesday, instead giving away part of the weekly gains against the backdrop of a decent bounce in the Dollar.
Gold stays firm amid higher US yields as traders await US GDP data
Gold recovers from recent losses, buoyed by market interest despite a stronger US Dollar and higher US Treasury yields. De-escalation of Middle East tensions contributed to increased market stability, denting the appetite for Gold buying.
Ethereum suffers slight pullback, Hong Kong spot ETH ETFs to begin trading on April 30
Ethereum suffered a brief decline on Wednesday afternoon despite increased accumulation from whales. This follows Ethereum restaking protocol Renzo restaked ETH crashing from its 1:1 peg with ETH and increased activities surrounding spot Ethereum ETFs.
Dow Jones Industrial Average hesitates on Wednesday as markets wait for key US data
The DJIA stumbled on Wednesday, falling from recent highs near 38,550.00 as investors ease off of Tuesday’s risk appetite. The index recovered as US data continues to vex financial markets that remain overwhelmingly focused on rate cuts from the US Fed.