Here's some trading ideas going into US retails at 13.30 GMT courtesy of UBS and our friends at efxnews.com
The following are UBS' latest short-term (mostly intraday) trading strategies for EUR/USD, USD/JPY, AUD/USD, and USD/CAD.
EUR/USD: We think the move lower will continue and any disappointment in today's US data would provide an opportunity to add to shorts towards 1.0820/30.
USD/JPY: The pair will be a risk play today so follow whatever equities do. As it is Friday, some market participants may want to take positions off of the table. Look to sell USDJPY ahead of 123.00, with a stop at 123.30.
AUD/USD: We think the pair remains a sell on rallies. There is good short-term resistance between 0.7150 and 0.7180 and the key pivot is the downtrend line that comes in around 0.7270. As long as this stays intact, we prefer playing the pair from the short side.
USD/CAD: We prefer buying dips, ideally between 1.3230 and 1.3200, with a stop through 1.3150.
Agree? Disagree? Let's be having your ideas in the comments below on preferably on our trading ideas link here
