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/GBP and AUD/USD.

EUR/USD

During Thanksgiving EUR/USD stood in 28 pips range but today, even without any US data pair plummet near 1.0575 level. UBS analytics think, that 1.06 support level is going to be protected while previous low hasn’t been broken yet. Selling at current levels is not a good idea, we prefer waiting for a correction and and add on moves towards 1.0680, with a stop at 1.0715 – UBS said.

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EUR/GBP

Todays GDP data from UK was in line with market forecasts, so EUR/GBP still suffer from lack of strong signal. Support at 0.7000, resistance near 0.7080 level. Playing this range is recommended ahead of the ECB meeting next week.

AUD/USD

AUD/USD stood in 25 pips range during yesterdays Thanksgiving, but right after 6 GMT supply took the initiative. We are in modest bearish trend right now, and this situation will probably last untill the day end. Supports at 0.7200 and 0.7160. Resistance at 0.7285/0.7310 area.