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/GBP, EUR/JPY and EUR/SEK.
Carney’s comments didn’t add anything new during weekend. Investors are focused on Thursday’s EBC. There is unlikely to be much action until then, but we’ll follow PMI reports and BoE’s Financial Stability Report. EURGBP is trading 0.7000-0.7100. We prefer selling the cross on rallies heading into Thursday.
We had chance to follow Kuroda’s speech today, but he didn’t add anything new to our point of view. There are chances to see JPY up, while japanese traders aren’t very much convinced about upcoming ease in BoJ’s policy. This should make EUR/JPY shorts very attractive this week.
Pair has mostly followed EURUSD, which has pushed the cross down to the lower end of its range. We prefer selling rallies towards 9.30, with a stop above 9.36, targeting a test of the support at 9.1700.