Wednesday, May 23, 2018

UBS advice on intra day trading

UBS: advice on intra-day trading in FX

EUR / USD: we do not like to trade against the trend, but it seems that the pair is approaching the time of correction. Buy at current levels with the stop below $ 1.2800 and the goal of at least $ 1.2950;

USD / JPY: the pair so far failed to gain a foothold above Y109.00, but good demand and not allow it to fall below Y108.50. The week began with a profit, the apparent deterioration in risk appetite and a decrease in yield of US bonds. Therefore sell pair at current levels to Y108.20 / 30, where it is possible to turn based on the regrowth. Stop in this case should be placed below Y107.50;

GBP / USD: the pair of sharp growth, provoked by the announcement of the results of the Scottish referendum, followed by at least a sharp decline. Now, the British currency is consolidating, trying to determine the direction of further movement. We recommend buying the pound / dollar at current levels and averages on dips. Stop should be placed below the $ 1.6300;

AUD / USD: the early hours of Monday the couple spent consolidating around Friday's closing levels, but closer to the beginning of the European session downtrend has resumed amid falling quotations of iron ore and global stock indices. We recommend to sell on rise to $ 0.8950 with a stop above $ 0.9020.

Source: Forexpf.Ru - Forex Market News



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