Analysts at UBS has some short term trading ideas in EUR/USD, USD/JPY and USD/CAD:
EUR/USD: remains heavy after breaking below 1.0800 as the dollar headed higher overnight. We are happy to sell rallies to 1.0830-40 with stops above 1.0890.
USD/JPY: With the dollar strengthening across the board, we would look to buy USDJPY on dips to 119.70 with a stop below 119.10. First resistance lies at 120.50 ahead of 121.30.
USD/CAD: Square longs and buy below 1.2450, sticking to the strategy of buying spot on dips rather than chasing it higher at the wrong levels.
For more trade ideas from banks, check out eFX Plus for a free one-month trial.
