Danske Research Team
Danske Bank A/S
Majors
EUR/USD: BUY AT 1.3263 FOR 1.3404 OBJECTIVE, STOP 1.3198
USD/JPY: LONG 88.42 STOPPED89.17, BUY AT 87.77 FOR 90.25, STOP87.69
GBP/USD: SELL AT 1.5890 FOR A 1.5754 OBJECTIVE, STOP AT 1.5935
USD/CHF: LONG AT .9320 FOR .9434 OBJECTIVE, STOP AT .9284
AUD/USD: LONG AT 1.0487 FOR 1.0599, STOP AT 1.0492
USD/CAD: BUY AT .9900 FOR 1.0057 OBJ, STOP .9840
Crosses
EUR/JPY: BUY AT 118.55 FOR 120.73 OBJECTIVE, STOP 117.63
EUR/GBP: LONG AT .8269, MET OBJECTIVE AT .8424
EUR/CHF: LOOK TO BUY
EUR/CAD: LONG AT 1.3135 FOR 1.3335, REVISE STOP AT 1.3125
GBP/JPY: POSSIBLY LOOKING TO SELL
NZD/USD: LONG AT .8350 FOR A .8477 OBJECTIVE, STOP AT .8340
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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.