UBS-logoTrade 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 EUR/NOK.


EUR/USD

Pair crossed 1,0700 level, but not for long. UBS thinks, that last moves of EUR/USD were caused by short covering, and market sentiment didn’t change at all. We still prefer selling any rallies that materialize. First resistance at 1.790, support around 1.0700. EURUSDM30

GBP/USD

Pair somehow managed dovish average weekly earnings, claims and unemployment data published today, and heading north. Cable crossed last resistance, which became a new support at 1.5133. UBS remains bullish and recommend buying dips to 1,5200. GBPUSDH1

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EUR/NOK

Norwegian CPI yesterday was generally in line with expectations, but underlying inflation disappointed slightly. EURNOK traded up to 9.3400 from 9.3000 after the release, but the move quickly reversed as the data was digested. UBS prefers fading rallies above 9.2800, with a stop through 9.3400. EURNOKH1

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