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 REVISED 1.4960; STOP AT 1.5165
USD/CHF: LONG AT .9820 FOR REVISED 1.0466; STOP AT 1.0195
AUD/USD: LONG AT .7125 FOR .7382; STOP AT .7149
USD/CAD: LONG AT 1.3150 FOR REVISED 1.3557, STOP RAISED TO 1.3270
Crosses
EUR/JPY: SHORT AT 133.35 FOR 129.62; REVISE STOP AT 131.11
EUR/GBP: SELL AT .7065 FOR .6936; STOP AT .7115
EUR/CHF: LONG AT 1.0830 FOR REVISED 1.1050; STOP AT 1.0805
EUR/CAD: SHORT AT 1.4285 FOR 1.3993 OBJ, REVISED STOP 1.4215
GBP/JPY: LONG AT 185.15 FOR 188.81; STOP AT 184.15
NZD/USD: LOOK TO SELL
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Editors’ Picks
EUR/USD clings to recovery gains near 1.0850 ahead of Fedspeak
EUR/USD trades in positive territory near 1.0850 on Friday following a four-day slide. China's stimulus optimism and a broad US Dollar correction help the pair retrace the dovish ECB decision-induced decline. All eyes remain on the Fedspeak.
GBP/USD pares UK data-led gains at around 1.3050
GBP/USD is trading at around 1.3050 in the second half of the day on Friday, supported by upbeat UK Retail Sales data and a pullback seen in the US Dollar. Later in the day, comments from Federal Reserve officials will be scrutinized by market participants.
Gold at new record peaks above $2,700 on increased prospects of global easing
Gold (XAU/USD) establishes a foothold above the $2,700 psychological level on Friday after piercing through above this level on the previous day, setting yet another fresh all-time high. Growing prospects of a globally low interest rate environment boost the yellow metal.
Crypto ETF adoption should pick up pace despite slow start, analysts say
Big institutional investors are still wary of allocating funds in Bitcoin spot ETFs, delaying adoption by traditional investors. Demand is expected to increase in the mid-term once institutions open the gates to the crypto asset class.
Canada debates whether to supersize rate cuts
A fourth consecutive Bank of Canada rate cut is expected, but the market senses it will accelerate the move towards neutral policy rates with a 50bp step change. Inflation is finally below target and unemployment is trending higher, but the economy is still growing.
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