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/CAD.

EUR/USD

Even though comments from finnish economist, and European Council member, Erki Liikanen was pretty optymistic for EU growth expectations, pair traded south during US session. Liikanen admited, that inflation is still on downside risk, and current monetary policy might be not enough to stop deflation. UBS still recommends selling EUR/USD – ideally from 1,0790/1,0820 area.

GBP/USD

There has been a correction of last falls, and it might be begining of longer trend, specially before tommorows job data. UBS see a scope for some gains, and recommend buying the dips, as 1,5000 is probable going to be a strong support for a longer period.

USD/CAD

Probably, current levels are best for playing long regarding to UBS. Pair corrected, and is few pips above local demand zone. UBS recommend buying USD/CAD at 1,3230 area with stop below 1,3100. Take profit level is at last high, 1,3460.