Goldman Sachs Spot Desk Strategies

  • Short EURUSD via Cash and Option => The pair continues to trade range bound ahead of the ECB for the time being but we maintain our bearish conviction. Levels for the session: next support at 1.1730 (yesterday’s lows) then 1.17, with resistance towards 1.1850 (yesterday’s high). S/L 1.19.
  • Short GBPUSD => We like GBP lower and look to fade a more developed rally above 1.5300, with intraday levels: support at 1.5170 and then 1.5145, with 1.5270 and 1.5300 topside resistance.
  • Long USDCAD via Cash and Option => USDCAD presents some compelling price action and remains one of our favourite themes for Q1. Short term support at 1.1850 while having broken the 1.20 the next resistance level is 1.2025-50 above.
  • Flat USDJPY => Still a dislocated price action so we are looking to be side-lined for the time being. Levels: 116.10 the support level below, with 118.75-85 and 119.30 the resistances.
  • Flat AUDUSD => Here we remain flat with levels: support at 0.8060, with resistance at 0.8250-55 area.

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