Danske Research Team
Danske Bank A/S
Majors
EUR/USD: SELL AT 1.2505 FOR 1.2342 OBJECTIVE, STOP 1.2582
USD/JPY: BUY AT 115.88 FOR 117.47 OBJECTIVE, STOP 115.29
GBP/USD: SHORT AT 1.5725 FOR 1.5522; STOP AT 1.5795
USD/CHF: BUY AT .9600 FOR .9741; STOP AT .9550
AUD/USD: POSSIBLY BUY
USD/CAD: LOOK TO BUY
Crosses
EUR/JPY: LONG AT 145.80 FOR 147.53 OBJECTIVE, STOP 144.69
EUR/GBP: BUY AT .7926 FOR .8082; STOP AT .7876
EUR/CHF: SHORT AT 1.2080 FOR REVISED 1.2006; STOP AT 1.2042
EUR/CAD: SELL AT 1.4130 FOR 1.3890 OBJ, STOP 1.4230
GBP/JPY: LONG AT 182.05 FOR 186.60 STOP AT 181.05
NZD/USD: LONG AT .7845 FOR .7997; STOP AT .7820
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Editors’ Picks
EUR/USD stays weak near 1.0650 ahead of Eurozone PMI data
EUR/USD remains on the back foot near 1.0650 in European trading on Tuesday. Resurgent US Dollar demand amid a cautious risk tone weighs on the pair. Investors stay wary ahead of the preliminary Eurozone and US business PMI data.
GBP/USD eases below 1.2350, UK PMIs eyed
GBP/USD is dropping below 1.2350 in the European session, as the US Dollar sees fresh buying interest on tepid risk sentiment. The further downside in the pair could remain capped, as traders await the UK PMI reports for fresh trading impetus.
Gold could see a rebound before resuming the correction
Gold price sees a fresh leg down in Asia on Tuesday even as risk flows dissipate. Receding fears over Middle East escalation offset subdued US Dollar and Treasury bond yields. Gold remains heavily oversold on the 4H chart, rebound appears in the offing.
PENDLE price soars 10% after Arthur Hayes’ optimism on Pendle derivative exchange
Pendle is among the top performers in the cryptocurrency market today, posting double-digit gains. Its peers in the altcoin space are not as forthcoming even as the market enjoys bullish sentiment inspired by Bitcoin price.
Focus on April PMIs today
In the euro area, focus today will be on the euro area PMIs for April. The previous months' PMIs have shown a return of the two-speed economy with the service sector in expansionary territory and manufacturing sector stuck in contraction.