Trade Ideas: EUR/USD, USD/JPY, GBP/USD, AUD/USD, NZD/USD, USD/CAD - UBS

12 February 2016, 14:22
Vasilii Apostolidi
0
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The following are UBS' latest short-term (mostly intraday) trading strategies for EUR/USD, EUR/JPY, GBP/USD, AUD/USD, NZD/USD, and USD/CAD.

EUR/USD: Intraday moves have been quite extreme, but there seems to be very little interest in the pair and liquidity is poor. We expect plenty of selling interest ahead of 1.1450/1.1500, while buyers will be lined up below 1.1000.

USD/JPY: The market is very jittery. Yesterday's USDJPY spike, which spooked a few shorts, was a good example of this. The pair also jumped earlier today in Asia on news that Abe and Kuroda were meeting. In the short term we think it is dangerous to be short, especially at current levels, so we prefer waiting for better levels to sell. 

GBP/USD: After the last few day's choppy trading, we prefer to stay on the sideline and only get involved on the extremes with a bias to buy ahead of 1.4370 with a stop through 1.4330. 

AUD/USD & NZD/USD: We think the US dollar is a sell on rallies, but the topside for AUDUSD and NZDUSD has been somewhat capped, so we prefer staying cautious and playing the extremes.

USD/CAD: price action continues to be volatile, tracking the sharp swings for oil prices. Plan to sell the pair on any spike towards 1.4000 and buy dips below 1.3850.

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