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, EUR/CHF, EUR/SEK and EUR/NOK.
EUR/USD
EUR/USD momentum is still bearish and we’re not going to fight it. We plan to go short on the pair if it moves aboce 1,09 level. Since it still below that level we recommend fading rallies and wait for 1,0810.
EUR/CHF
Pair touched 1,08 area and corrected strongly. 1,08 is profit-taking area so without any new data it’s probably going to hold on EUR/CHF. We still recommend fading rallies towards 1.0880/1.09.
EUR/SEK
Slipped to 9,31 after yesterday’s strong Swedish GDP data. Gains are limited in this condition, we prefer selling the pair towards 9.36.
EUR/NOK
Oil supports NOK, when EUR/NOK is testing 9,40. Play EURNOK from the short side and try to fade incoming rallies.