Danske Research Team
Danske Bank A/S
Majors
EUR/USD: SHORT AT 1.1320 FOR 1.1000; STOP AT 1.1451
USD/JPY: LOOK TO BUY LOWER
GBP/USD: LONG AT 1.5405 FOR REVISED 1.5621; REVISE STOP AT 1.5395
USD/CHF: LONG AT .8755 FOR REVISED .9602; STOP RAISED to .9345
AUD/USD: LONG AT .7775 FOR .8033; STOP AT .7790
USD/CAD: BUY AT 1.2355 FOR 1.2697 STOP AT 1.2294
Crosses
EUR/JPY: REVISE BUY AT 134.85 FOR 136.70; STOP AT 133.90
EUR/GBP: SELL AT .7355 FOR .7254; STOP AT .7405
EUR/CHF: LONG AT 1.0510 FOR REVISED 1.1002; STOP AT 1.0629
EUR/CAD: SELL AT 1.4230 FOR 1.3805 OBJ, STOP 1.4345
GBP/JPY: LONG AT 182.00 FOR 187.30; REVISED STOP AT 183.40
NZD/USD: BUY AT .7510 FOR .7690 STOP AT .7460
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Editors’ Picks
EUR/USD clings to daily gains above 1.0650
EUR/USD gained traction and turned positive on the day above 1.0650. The improvement seen in risk mood following the earlier flight to safety weighs on the US Dollar ahead of the weekend and helps the pair push higher.
GBP/USD recovers toward 1.2450 after UK Retail Sales data
GBP/USD reversed its direction and advanced to the 1.2450 area after touching a fresh multi-month low below 1.2400 in the Asian session. The positive shift seen in risk mood on easing fears over a deepening Iran-Israel conflict supports the pair.
Gold holds steady at around $2,380 following earlier spike
Gold stabilized near $2,380 after spiking above $2,400 with the immediate reaction to reports of Israel striking Iran. Meanwhile, the pullback seen in the US Treasury bond yields helps XAU/USD hold its ground.
Bitcoin Weekly Forecast: BTC post-halving rally could be partially priced in Premium
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Week ahead – US GDP and BoJ decision on top of next week’s agenda
US GDP, core PCE and PMIs the next tests for the Dollar. Investors await BoJ for guidance about next rate hike. EU and UK PMIs, as well as Australian CPIs also on tap.