UK votes to leave the EU

June 24, 2016

Markets plunge as Britons voted to leave the EU. Market volatility is likely to pick up in the aftermath of the EU referendum. Central bank speeches and further news flows are likely to keep the markets on the edge today. The sterling and the euro have been trending weaker already, and gold prices and the yen were seen rising as investors flock to safety.

EURUSD Daily Analysis

EURUSD (1.103): EURUSD is currently trading near the support of 1.10 after briefly touching 1.0927 support on the daily chart. Further declines are likely in the near term, but there is a possibility of a pullback to 1.1140 ahead of further declines. To the downside, a break below 1.0985 could signal further declines in the euro potentially towards 1.0562 - 1.05180 levels, last seen in mid November 2015.

​

USDJPY Daily Analysis

USDJPY (101.6): USDJPY rallied to the resistance level of 106.27 - 105.60 but with the resistance holding the gains, the currency has plunged and is now seen pulling back after a brief test to 98 - 99 levels. In the near term, USDJPY could see a pullback that could be limited to 102.35. Below 98, USDJPY could see a test to 96 levels. The yen pulled back after brief comments from BoJ Governor Kuroda and increased the likelihood of a central bank intervention, especially for the yen.

GBPUSD Daily Analysis

GBPUSD (1.333): GBPUSD has broken the neckline support of the multi-decade head and shoulders pattern. Any pullbacks are likely to be limited to 1.385 and could signal further downside to 1.30. Volatility is likely to continue over the coming days as negotiations on exiting the EU begin.

Gold Daily Analysis

XAUUSD (1328.78): Gold prices were seen testing 1350 levels following the breakout from the bullish pennant pattern. The downside is limited to 1310 support, but further upside can be expected towards 1371 as the minimum target.

​

Publication source
Orbex information  Orbex reviews

December 2, 2016
It's not the jobs numbers
It’s not bee the economy that has been driving the dollar over the past 3 weeks, of that we can be pretty sure. Rather, it’s been expectations of tax cuts and spending increases, together with incentives for dollar repatriation under the new President...
December 2, 2016
OPEC alliance stuck a global agreement
The Oil prices jumped on Wednesday after the organisation members agreed to pare production first time since 2008, to reduce global oversupply, which made the prices collapse by half since mid-2014...
December 2, 2016
Rebound continues in UK construction
The latest data on the UK construction sector was released this morning, and will likely be seen as positive overall as the recovery from the Brexit shock appears to be persisting. Despite this the FTSE 100 is under pressure this morning...

Vantage FX Rating
Tickmill Rating
FXCM Rating
FIBO Group Rating
OctaFX Rating
FBS Rating

Porter Finance Rating
Banc De Binary Rating
Beeoptions Rating
IQ Option Rating
TopOption Rating
TropicalTrade Rating