Danske Research Team
Danske Bank A/S
Interested in more FX key technical levels? Take a look at Luc Luyet's daily technical outlook.
Majors
EUR/USD: SHORT AT 1.0720 FOR 1.0458, STOP LOWERED TO 1.0766
USD/JPY: LONG AT 123.00 FOR 124.63, STOP AT 122.19
GBP/USD: SHORT AT 1.5170 FOR 1.5000; STOP AT 1.5235
USD/CHF: LONG AT .9820 FOR 1.0310; STOP AT 1.0089
AUD/USD: LONG AT .7125 FOR .7297; STOP AT .7130
USD/CAD: LONG AT 1.3150 FOR REVISED 1.3557, STOP RAISED TO 1.3240
Crosses
EUR/JPY: SHORT AT 133.35 FOR 129.62; REVISE STOP AT 132.35
EUR/GBP: SHORT AT .7220 FOR REVISED .6936 OBJECTIVE; STOP AT .7045
EUR/CHF: LONG AT 1.0830 FOR 1.0950; STOP AT 1.0785
EUR/CAD: SHORT AT 1.4285 FOR 1.3993 OBJ, STOP 1.4285
GBP/JPY: LONG AT 185.70 FOR 188.81; STOP AT 185.15
NZD/USD: LONG AT .6520 FOR .6699; REVISED STOP AT .6485
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Editors’ Picks
EUR/USD consolidates weekly gains above 1.1150
EUR/USD moves up and down in a narrow channel slightly above 1.1150 on Friday. In the absence of high-tier macroeconomic data releases, comments from central bank officials and the risk mood could drive the pair's action heading into the weekend.
GBP/USD stabilizes near 1.3300, looks to post strong weekly gains
GBP/USD trades modestly higher on the day near 1.3300, supported by the upbeat UK Retail Sales data for August. The pair remains on track to end the week, which featured Fed and BoE policy decisions, with strong gains.
Gold extends rally to new record-high above $2,610
Gold (XAU/USD) preserves its bullish momentum and trades at a new all-time high above $2,610 on Friday. Heightened expectations that global central banks will follow the Fed in easing policy and slashing rates lift XAU/USD.
Week ahead – SNB to cut again, RBA to stand pat, PCE inflation also on tap
SNB is expected to ease for third time; might cut by 50bps. RBA to hold rates but could turn less hawkish as CPI falls. After inaugural Fed cut, attention turns to PCE inflation.
Bank of Japan set to keep rates on hold after July’s hike shocked markets
The Bank of Japan is expected to keep its short-term interest rate target between 0.15% and 0.25% on Friday, following the conclusion of its two-day monetary policy review. The decision is set to be announced during the early Asian session.
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