Danske Research Team
Danske Bank A/S
Majors
EUR/USD: SELL AT 1.3618 FOR 1.3503 OBJECTIVE, STOP 1.3667
USD/JPY: LONG AT 102.05 FOR 102.76 OBJECTIVE, STOP 101.64
GBP/USD: LONG AT 1.7120 FOR 1.7230; STOP AT 1.7060
USD/CHF: BUY AT .8913 FOR .8974 OBJECTIVE, STOP .8886
AUD/USD: SELL AT .9410 FOR .9229; STOP AT .9445
USD/CAD: SHORT AT 1.0677 FOR 1.0589 REVISED STOP AT 1.0705
Crosses
EUR/JPY: LONG AT 138.55 FOR 139.79 OBJECTIVE, REVISED STOP 138.47
EUR/GBP: SHORT AT .8015 FOR .7887; STOP AT .7985
EUR/CHF: SHORT AT 1.2190 FOR REVISED 1.2123; STOP AT 1.2166
EUR/CAD: SHORT AT 1.4750 FOR 1.4410 OBJ, REVISED STOP 1.4580
GBP/JPY: REVISE BUY AT 174.15 FOR 179.20; STOP AT 173.30
NZD/USD: BUY AT .8690 FOR .8842; STOP AT .8635
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Editors’ Picks
EUR/USD steadies above 1.0600, awaits German ZEW and Powell speech
EUR/USD is holding above 1.0600 in the European morning on Tuesday, having hit fresh five-month lows. The pair draws support from sluggish US Treasury bond yields but the rebound appears capped amid a stronger US Dollar and risk-aversion. Germany's ZEW survey and Powell awaited.
GBP/USD stays below 1.2450 after UK employment data
GBP/USD trades marginally lower on the day below 1.2450 in the early European session on Tuesday. The data from the UK showed that the ILO Unemployment Rate in February rose to 4.2% from 4%, weighing on Pound Sterling.
Will Gold reclaim $2,400 ahead of Powell speech?
Gold price consolidates the rebound below $2,400 amid risk-aversion. Dollar gains on strong US Retail Sales data despite easing Middle East tensions. Bullish potential for Gold price still intact on favorable four-hour technical setup.
SOL primed for a breakout as it completes a rounding bottom pattern
Solana price has conformed to the broader market crash, following in the steps of Bitcoin price that remains in the red below the $65,000 threshold. For SOL, however, the sensational altcoin could have a big move in store.
Key economic and earnings releases to watch
The market’s focus may be on geopolitical issues at the start of this week, but there is a large amount of economic data and more earnings releases to digest in the coming days.