Trade Ideas: EUR/USD, GBP/USD, USD/JPY, AUD/USD, USD/CAD - UBS
The following are UBS' latest short-term (mostly intraday) trading strategies for EUR/USD, GBP/USD, USD/JPY, AUD/USD, and USD/CAD.
EUR/USD: After Friday's selloff, we prefer finding levels to get short. Look to sell into a squeeze above 1.0950, with a stop above 1.1035.
USD/JPY: We think 113.40/113.60 is a good selling opportunity, with a stop above 113.80, targeting a move down to 112.50, followed by 112.20.
GBP/USD: Cable is very volatile with the ongoing Brexit concerns and we expect this to be the case for some time. Flows haven't really picked up and trading has been very transactional. After the move lower we prefer buying the pair on dips and selling around 1.4000-1.4050. PMI data is due this week, starting with manufacturing PMI tomorrow.
AUD/USD: We would stick to longs if 0.7100/10 holds. The RBA meets tomorrow and is expected to leave rates unchanged and to maintain its easing bias.
USD/CAD: has thus far been relatively immune to the US dollar rally, but we see the risk of a catch-up to other pairs such as AUDUSD and NZDUSD. With decent support below current levels, it makes sense from a risk:reward point of view to buy USDCAD on dips, with a stop through 1.3440, targeting a move towards 1.3800.
PS: Copy signals and Earn $ on https://www.share4you.com/en/?affid=0fd9105 ( If the trader then sell signals)
