Danske Research Team
Danske Bank A/S
Majors
EUR/USD: SELL AT 1.3430 FOR 1.3295 STOP AT 1.3490
USD/JPY: BUY AT 101.75 FOR 102.64 OBJECTIVE, STOP 101.48
GBP/USD: SHORT AT 1.6862 FOR 1.6693; STOP AT 1.6832
USD/CHF: LONG AT .8909 FOR REVISED .9156; REVISED STOP AT .9028
AUD/USD: SHORT AT .9278 FOR .9203; STOP AT .9308
USD/CAD: LONG AT 1.0915 FOR REVISED 1.1027 REVISED STOP AT 1.0895
Crosses
EUR/JPY: BUY AT 136.42 FOR 137.71 OBJECTIVE, STOP 135.69
EUR/GBP: BUY AT .7955 FOR .8082 STOP AT .7900
EUR/CHF: LOOK TO SELL
EUR/CAD: LONG AT 1.4590 FOR 1.4835; REVISE STOP AT 1.4580
GBP/JPY: SELL AT 171.75 FOR 169.50, STOP AT 172.70
NZD/USD: SHORT AT .8490 FOR .8343; STOP AT .8540
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Editors’ Picks
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.
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.
Gold price holds steady below $2,400 mark, bullish potential seems intact
Gold price oscillates in a narrow band on Tuesday and remains close to the all-time peak. The worsening Middle East crisis weighs on investors’ sentiment and benefits the metal. Reduced Fed rate cut bets lift the USD to a fresh YTD top and cap gains for the XAU/USD.
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.