U.S. Session Forex Recap – June 21, 2016

  • ORB Brexit poll: 53% remain, 43% leave
  • YouGov Brexit poll: 42% remain, 44% leave
  • NatCen Brexit poll: 53% remain, 47% leave

No data, no problem! Forex pairs were still on the move despite the lack of top-tier releases during the U.S. session, as traders zoomed in on Brexit polls.

Major Events:

More Brexit polls – Now that the EU referendum is just a few days away, market watchers are looking at poll results more closely to have an idea of whether it’ll be a Brexit or a Bremain. So far, the numbers are still mixed, although there’s a slight lead in favor of the remain camp.

The ORB Brexit poll showed that 53% voted to remain while 43% voted to leave. The YouGov Brexit poll painted a different picture, with 42% voting to remain and 44% voting to leave, while the NatCen Brexit poll showed that 53% voted to remain while 47% voted to leave. It’s still too close to call but if you’re planning on playing this event, make sure you read Forex Gump’s 5 Things to Remember When Trading the Brexit Vote.

Major Currency Movers:

GBP – Because the focus was mostly on the Brexit polls, the pound was one of the biggest movers for the day as it typically rallies on a lead for the “stay” camp and retreats otherwise.

GBP/USD carried on with its climb and tested the resistance at the 1.4700 major psychological level, GBP/JPY turned from a high of 153.65 but still hasn’t closed the weekend gap, EUR/GBP dropped from the .7750 area to a low of .7695, and GBP/AUD rallied to a high of 1.9738.

JPY – The yen flexed its muscles for the most part of the trading day, filling the weekend gaps against some of its counterparts.

USD/JPY tumbled from the 104.50 area to a low of 103.60, EUR/JPY found resistance at 119.00 and is down to 117.55, AUD/JPY fell from a high of 78.16 to a low of 77.50, and NZD/JPY gave back its gains upon testing 74.50 and is down to 73.87.

See also:

Asian Session Recap

London Session Recap

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