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, EUR/CHF, USD/JPY and USD/CAD.

EUR/USD

The 1.0950-1.0980 zone has held well, and the pair ended up closing near the day’s high yesterday. The range play around 1.1000 remains intact and although we don’t have confidence in this move higher, it should be respected for the moment. We wouldn’t be surprised if there was another squeeze to test 1.1050/60.Look for a selling opportunity in this zone.

EURUSD.nddH4

USD/JPY

Fell to a low of 111.04 yesterday on risk-off selling. Chinese equities traded sharply lower today and S&P 500 futures have come off, so we prefer selling USDJPY.

USDJPY.nddH1

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EUR/CHF

Bearish trend on EUR/CHF is still in play, and today’s rebound is a good opportunity to sell the pair.

EURCHF.nddH4

USD/CAD

CAD is still well corelated with oil prices, band trend on USD/CAD is still bearish. Watch out for choppy price action and try to fade potential corrective move.

USDCAD.nddH1

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