Danske Research Team
Danske Bank A/S
Majors
EUR/USD: LOOK TO SELL 1.2560/70
USD/JPY: LONG AT 117.70 FOR 119.84 OBJECTIVE, STOP AT 117.03
GBP/USD: BUY AT 1.5740 FOR 1.5886; STOP AT 1.5645
USD/CHF: BUY AT .9575 FOR .9741; STOP AT .9525
AUD/USD: SHORT AT .8566 FOR .8315, STOP AT .8624
USD/CAD: BUY AT 1.1200 FOR 1.1403 STOP AT 1.1145
Crosses
EUR/JPY: LONG AT 147.00 FOR 148.43; STOP AT 146.28
EUR/GBP: SELL AT .7955 FOR .7799; STOP AT .8010
EUR/CHF: SHORT AT 1.2080 FOR REVISED 1.2006; STOP AT 1.2042
EUR/CAD: SHORT AT 1.4025 FOR 1.3790 STOP AT 1.4125
GBP/JPY: LONG AT 185.50 FOR 188.50; STOP AT 184.45
NZD/USD: SHORT AT .7840 STOPPED AT .7915
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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.