Latest short term trade ideas from UBS

They like selling rallies against the dollar

EUR/USD: We prefer the short side, but would only get involved on the extremes. Fade a 50-60 pip move to either side, with a stop below 1.0730 and above 1.0920. We were better sellers yesterday, but volumes were low.

GBP/USD: Cable traded up above 1.4800 yesterday, but didn't remain there for long and sold off aggressively. We prefer selling rallies closer to 1.4780/1.4800, with a stop above yesterday's high, targeting a move towards 1.4635.

AUD/USD: Equities will remain in focus, with very little data due from Australia this week, apart from retail sales on Friday. Stick to selling rallies between 0.7210 and 0.7250, with a stop above 0.7350, targeting a test below 0.7100.

NZD/USD: Remains soft, in line with the broad support for the US dollar. Stick to selling rallies, targeting a move towards 0.6600. The first resistance comes in around 0.6775, followed by 0.6825. Keep a stop above 0.6900.

USD/CAD: Price action has been whippy, with the volatility in oil prices. The pair remains in the 1.3770-1.4000 range and we would stick to fading extremes. Sell rallies above 1.3950 with a stop at 1.4010 and buy into dips below 1.3825 with a stop at 1.3760.

Pretty much trading between the intraday goal posts. Watching intraday levels develop are a great way to focus your mind and get a real feel for a market

Efx has the trades and you can check out a free trial here