The following are UBS' latest short-term (mostly intraday) trading strategies for EUR/USD, GBP/USD, EUR/JPY and USD/CAD.
EUR/USD: remains stuck in the range of the last few days with choppy stock markets. There's still no clear direction in the pair but levels around 1.1120 appears to be the key support and rallies toward 1.12 are toppish. Try and play that range, still watching risk/stocks/oil very closely.
GBP/USD: Look to sell on spikes to 1.4370, with a stop through 1.4450, as there seems to be more room to the downside for the current move.
EUR/JPY: Look to sell on any bounces up to 127.20/40, with a stop above 127.50, targeting a move towards 126.50, followed by 126.00.
USD/CAD: price action remains tightly correlated to moves for oil. We expect oil trading will continue to be choppy, and therefor think USDCAD trading will also be choppy. Look to fade rallies above 1.3900, with a stop through 1.4050, targeting a move towards 1.3750.
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