Good day forex traders.
It is the last day of the trading week and I hope everyone is doing ok.
In my previous review I cautioned on the possible unexpected volatility due to the referendum on Britian’s exit from the European Union.
Looking at the 4 hourly chart above, we note on the sharp dip in favor of the US dollar. This may be a knee jerk reaction as news coverage of the Brexit reports. Major support levels were breached.
Early reports mentioned of an unexpected lead by ” Leave “. This event is likely to exert significant influence on the European currency and hence we must monitor closely.
In view of the volatile situation, extreme caution is advised. I am currently not in a position.
Trade safely .
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