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/CAD and USD/JPY.
USD/CAD
Yesterday, pair suddenly reversed from 1.3420/35 area and sold off by 100 pips. Drop coincided with sharp move on crude oil which might give USD/CAD a quite good support in the nearest future. We strongly recommend selling intraday moves between 1.3370 and 1.3400, with a stop through the September high of 1.3460, targeting a test of 1.3250. It is not impossible for USD/CAD to break 1.3250 too, if so test of bullish trend line will be unavoidable. 
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EUR/USD
The risk of a short squeeze can’t be ruled out, but the pair should remain under pressure ahead of the ECB’s meeting next week. UBS still stands for its bearish view of EUR/USD, but is getting involved in shorts only if the pair moves closer to 1.0700. We expect some support above 1.0500 and would be surprised to see a move below the year’s low ahead of the ECB – analyst says. 
USD/JPY
Failed to break higher yesterday, despite the stronger US dollar and now it is in short term bearish trend. Selling pair towards trend line is recommended. 
