Brexit Trade Desk: Buy GBP Sell Euro, Frexit is Coming
France will be next to deliver the message the world, Socialism, Huge Refugee Numbers, Political Correctness, NO THANK YOU.
Here is the HEFFX reaction to Brexit Buy GBP Sell Euro
The Euro is an unmitigated flop! GBP and Britain will do better without the chains or the EU and ECB.
FOREX EUR= closed down -0.028 at 1.110. Volume was 59% above average (neutral) and Bollinger Bands were 14% narrower than normal.
Open High Low Close Volume___
1.139 1.143 1.091 1.110 118,395
Short Term: Neutral
Intermediate Term: Bullish
Long Term: Super Bearish
Moving Averages: 10-period 50-period 200-period
Close: 1.13 1.13 1.11
Volatility: 18 12 12
Volume: 87,910 76,468 67,544
Short-term traders should pay closer attention to buy/sell arrows while intermediate/long-term traders should place greater emphasis on the Bullish or Bearish trend reflected in the lower ribbon.
FOREX EUR= is currently 0.1% above its 200-period moving average and is in an upward trend. Volatility is extremely high when compared to the average volatility over the last 10 periods. There is a good possibility that volatility will decrease and prices will stabilize in the near term. Our volume indicators reflect moderate flows of volume into EUR= (mildly bullish). Our trend forecasting oscillators are currently bullish on EUR= and have had this outlook for the last 1 periods, this is a result of Brexit Hype.
The Euro is set to dive, our target is 87c to the USD.
The pound fell as much as 10 percent against the dollar to touch levels last seen in 1985, on fears the decision could hit investment in the world’s fifth-largest economy, threaten London’s role as a global financial capital and usher in months of political uncertainty. The euro slid 3 percent.
World stocks saw more than $2 trillion wiped off their value although Britain’s FTSE 100 stock index recovered much of its early losses. U.S. stocks fell sharply, with the Dow Jones industrial average dropping as much as 538 points.