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, GBP/USD and USD/JPY.

EUR/USD

Christmas and New Year cause a lot damage to market liquidity these days. EUR/USD suffers lack of new macro publications, and probably will be driven by last week sentiment. We prefer to sell the pair at 1.0875/85 with safe stop above 1,0920. Our target is at 1.08 level.

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USD/JPY

Similar situation like on EUR/USD – pair was trying to break through support at 121.00, but demand has shown its power and now USD/JPY is trading 40 pips higher. We expect consolidation between 121.00 and 121.70 today. Buy dips to 121.00/20, with a stop below 120.80, targeting 121.70/80.

GBP/USD

Just like in previous cases, liquidity is becoming a real problem on GBP/USD. With lack of any relevant information from british economy, probability of continuing current trend is high. UBS prefers selling highs on GBP/USD below 1.4950, with a stop above 1.4975 in favor of getting down towards 1.4850.