Markets anxious
Markets are certainly anxious as traders prepare for the UK referendum vote results. The price of the EURUSD today has seen a steady move higher. The move began at the start of the day at the 100 hour MA (blue smooth line in the chart below). The move really started to get its mojo - technically at least - when it bottomed at the 100 day MA at the 1.1235 in yesterday's early day trading. That was then, this is now.
The high today took out the high from earlier this month at 1.4015 but could only get to 1.4020 before heading back down a bit.
Technically, the 1.1435-65 remains a key level to get to and through on the topside. That is the next key target. The price since February 2015 has seen 6 closes above that level. Get and stay above the level and the buyers are more in control.
Of course all this can go upside down in a second. The EURGBP will be a big influence of course. That - and liquidity conditions from the brokers - will make trading very difficult.
Risk is sky high. So be careful.
