Trade Ideas For EUR/USD, USD/JPY, USD/CHF, GBP/USD - UBS

Trade Ideas For EUR/USD, USD/JPY, USD/CHF, GBP/USD - UBS

15 February 2016, 16:41
Vasilii Apostolidi
2
105

The following are UBS' latest short-term (mostly intraday) trading strategies for EUR/USD, USD/JPY, USD/CHF and GBP/USD.

EUR/USD: US markets are closed for a public holiday today so we don't expect too much activity. Risk could squeeze further, so we prefer waiting to buy on dips to 1.1100/1.1120, with a stop below 1.1050.  

USD/JPY: There has been a sharp rebound in risk and the Nikkei surged more than 7% today. In the short term, this should support USDJPY and yen crosses. However, sentiment could easily turn sour very quickly, so we still prefer selling into rallies. Look to sell closer to 115.00, with a stop above 116.25. 

USD/CHF: has been rangy in trading today, with equities performing better than expected after China reopened following the Lunar New Year holiday. With the public holiday in the US today, we expect further consolidation. We are slightly biased to sell on USD rallies, although ideally closer to 0.9870/0.9900. .

GBP/USD: Cable is nearly unchanged from Friday's Europe close at 1.4525 after spending most of last week around the 1.4500 handle. With the US holiday today and the calendar extremely light, we would expect last week's 1.4370-1.4580 range to remain in place. Buy the pair on dips with stops through 1.4330.

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