UK votes to leave the EU

24 June, 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.

​


Source link  
USD slips on soft data and China talks

The euro posted modest gains on Friday as price action settled near March 13 highs of 1.1329, forming a double top pattern. The gains came as final...

China Targets 6.0-6.5% GDP Growth

In an effort to prop up its sluggish economic growth, the Beijing administration announced a series of measures including tax cuts and infrastructure...

UK Brexit Vote Due Amid GDP Report

The US dollar extended declines for a second daily session. Economic data on the day was relatively sparse. The euro traded subdued...


Fed Powell's Testimony To U.S. Congress

The Fed Chairman, Jerome Powell gave his semi-annual two-day testimony to the U.S. Congress last week. In his testimony, Powell defended...

Bank Of Canada monetary policy preview

Given the recent patch of economic data, it is unlikely that the central bank will be pushing for rate hikes. The OIS money markets...

Another strong month on Australia labor market

The latest jobs report by the Australian Bureau of Statistics (ABS) showed that the labor market data beat the expectations with growth surging. The data...


U.S. GDP and housing market data

Delayed data from the United States dominate the economic calendar for the week ahead. This includes some aspects of the housing market, the fourth...

Japan CPI expected to be published

During the upcoming Asian session, market moves are likely to shift around the Japanese yen, as we have a fresh serving of key macro data coming out...

Australia's January Unemployment Change

We could have some volatility in AUD pairs coming up during the Asian session, as the Australian Bureau of Statistics will be releasing a series...


In the past 24 hours Bitcoin has lost -1.86% and reached $3940.52899558. Open your trading account with the best cryptocurrency brokers on special terms today.

In the past 7 days the EUR/USD pair has lost -0.4259% and is now at $1.1296. Start trading and making money on Forex today.

In the past 7 days Ethereum has lost -4.07% and is now at $133.888360723. Have the most popular cryptocurrencies compared online 24/7.


Top Brokers offering Daily Forex Market Reviews


Forex Currencies Forecasts


Top 10 Forex Brokers 2019

# Broker Review
1easyMarketseasyMarkets91%
2FXTMFXTM89%
3HYCMHYCM88%
4FxProFxPro86%
5FIBO GroupFIBO Group85%
6OctaFXOctaFX84%
7HotForexHotForex81%
8FXCMFXCM78%
9AlpariAlpari76%
10XMXM74%
  


Share: