Why did the rabbit freeze?

Posted Wednesday, June 22, 2016 by
Skerdian Meta • 1 min read

You know that flashlight effect that when you direct it into a rabbit´s eyes it freezes and keeps staring into the light? Well, that´s how the forex market feels like right now. It looks like no one knows what to do or what sides to take so everyone is just motionless. Can´t blame them, you can´t anticipate which side the vote will go in tomorrow´s Brexit referendum. It´s a close call. After all, the forex market can move hundreds or thousands of pips in a couple of hours during such events, we all remember the 50 cent move in most Swiss Franc pairs when the Swiss National Bank (SNB) threw the towel in January last year, so better safe than sorry. Meanwhile, we have open a short term EUR/USD forex signal to pocket a few pips hopefully, since this pair has moved 50 pips up this morning which is a lot prior to the Brexit referendum and the 50 moving average is doing a good job providing resistance. 

Seems like EUR/USD is about to reverse down

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