EUR/USD: UBS recommends trading off of the range today (buy near 1.08 and/or sell near 1.10)

Below, you will find UBS' latest short-term advice for the EUR/USD, for Friday 29 January 2016:

"The range configuration remains intact, and it is hard to imagine that things will change in the short term.

We continue to favour the downside, but for now it is also possible to anticipate a stronger rise.

Buyers are expected under 1.08, while sellers are likely positioned for 1.10. We therefore advise traders to play off of intraday movements, and only enter the market at the extremes."