The following are UBS' latest short-term (mostly intraday) trading strategies for EUR/USD, GBP /USD, and NZD/USD.
EUR/USD: is likely to hold the current wide range. While the overall trend is unlikely to change, a correction seems possible in the short term as buying interest popping up on every dip and net flows in the last few weeks have been buyers. Keep fading 60-70pip moves in either direction with stops at 1.1190/1.1425.
GBP/USD: Cable was driven by heavy buying in EURGBP yesterday. We see further downside in EURGBP. That should provide some support to the pair. Stay on the sidelines today.
NZD/USD: remains soft. Be cautious of irrational moves due to month-end rebalancing today. It's important to pick the right level. We prefer selling rallies to 0.7400 with stops above 0.7500. Support lies at 0.7100 ahead of 0.6950.
PS: indicators that you can use in your trading system.
Good Luck!!!
