Trade 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, USD/CAD and AUD/USD.

EUR/USD

Pair is still in thin downward channel. We still recommend selling EUR/USD (ideally from 1,09 area) and only a very poor data from US might change our mind. Keep playing the pair from the short side, planning to add ahead of 1.0900, with a stop above 1.0950. Support at 1.0830, 1.0800 and 1.0775. Resistance at 1.0880, 1.0900 and 1.0950.

USD/JPY

It took few better than expected US economic reports to turn USD/JPY around. We’re focusing on today’s ADP report and Friday’s non farm payrolls. Stay flexible, but we’re biased to be long USD. Support at 114.00.

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USD/CAD

Better Canadian GDP numners and oil price action cause a strong CAD performance during past days. We’re currently in support area, but we think USD/CAD is going to break it for good. Stay flexible during incoming US data.

AUD/USD

AUD/USD moved higher after stronger-than-expected Australian Q4 GDP data. There is a clear resistance zone at previous tops, but we do belive AUD/USD will break it sooner or later. The big risk comes with today’s ADP data so try to get involved on extremes.