EUR/USD: euro is disappointed
Brexit vote made a huge blow for financial markets. The single currency fell on Friday losing more than 5 big figures and sliding to 1.0900. As a result, all lines of the ichimoku indicator went down.
The following bounce to 1.1170 has evened teh situation. The indicator lines turned sideways signalling the upcoming consolidation. However, on Monday the pair once again found itself near the lows, below 1.1000.
In the near term EUR/USD will likely trade in the 1.1000-1.1100 area as the market is strongly oversold, and new players are not likely to join.
Technical levels: support – 1.1000; resistance – 1.1100/50.
Trade recommendations: out of the market.