Trade Ideas For EUR/USD, USD/JPY, EUR/CHF, GBP/USD, USD/CAD - UBS
The following are UBS' latest short-term (mostly intraday) trading strategies for EUR/USD, USD/JPY, EUR/CHF, GBP/USD, and USD/CAD.
EUR/USD: The range play remains intact and it is difficult to see this changing in the short term. We prefer the short side, but for now it makes no sense to aim for a larger move, with buyers expected to emerge below 1.0800 and sellers lined up ahead of 1.1000. Play the intraday moves and only get involved on the extremes.
USD/JPY: Look to go short around 118.60/70, with a stop above the post-FOMC high of 119.08. The next resistance after that is at 119.77. Support at 118.40 and 117.70.
EUR/CHF: continues to trade bid, having closed above the important resistance at 1.1050. However, interest in the pair is quite limited, which is not a very bullish sign. Look to buy dips towards 1.0990/1.1010.
GBP/USD: Whippy price action has continued. Price action suggests that interest and liquidity are very low, and that this a very transactional market. Sell Cable towards 1.4350, and buy the pair below 1.4200.
USD/CAD: We expect price action to remain very choppy. The big level on the downside is 1.4000, while the first resistance is at 1.4350. Play this range until there is a break to either side; our preference is to sell on rallies.
PS: Copy and Earn on Forex4you - https://www.share4you.com/en/?affid=0fd9105
