Good day forex traders.
Welcome to another brand new week of forex trading and I hope it will be great one for all.
In the previous review we noted on the Breexit reality of happening and how the currencies were already reacting. Caution was advised.
Looking at the EUR/USD 4 hourly chart above we can see that the currency pair is on a down trend for the short term. There is a small forex gap which is not surprising considering the impact.
With the UK voting to leave the European Union, the markets are weighting in on the impact. Generally it seems to have negative effect on the Europe region. There are talks of referendum by other countries or even a repeat in UK. The high uncertainty is causing a drag in sentiments.
The EUR/USD may be aiming for the previous low. In view of the uncertainty, I will remain on the side for now.