UBS-logoTrade Ideas are short term (mostly intraday) forex strategies realesed daily by UBS analytics. In todays release we can get to know with their ideas for such currency pairs like EUR/USD, USD/JPY and AUD/NZD.


 

AUD/NZD

There was a visible reaction in trading on this pair right after yesterday RBNZ decision. There is steady downtrend on AUD/NZD and UBS analytics are going to sell the pair as well. There might be a little supply zone at 1.05 – they noted – but it shouldn’t be a major problem for bears. Bank is looking for hit the target at 1.0325 and that is the place of its take profit orders. Strategy for today? Sell AUD/NZD as long as it stays below 1.0700.AUDNZDH1

EUR/USD

There was a quick squeeze through 1.1000 this morning on what seemed to be the cleaning out of some short-term positions.It seems it’s a minor and healthy correction after 450 pip move after last ECB. UBS prefer playing the short side, planning to add on a move back up to this morning’s high, with a stop at 1.1055. Support at 1.0965, 1.0925, resistance at 1.1015, 1.1050. EURUSDM30

USD/JPY

There was a quick rollercoaster at USD/JPY. After BoJ decision pair traded down to 120.29, but right after it, bulls had started to act and pushed the pair to a weekly high of 121.50. UBS prefer longs on USD/JPY, looking for a right moment to buy near 120.00. USDJPYH1

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