Prepare your account/s for the Italian Constitutional Referendum this weekend. Increased volatility and decreased liquidity expected for EUR pairs, Gold, Silver, commodities, CFD's and Indices. Funding account/s should take precedence over opening new orders to protect your account from margin call. Sunday/Monday open may or may not surprise traders, be prepared if you plan to have open positions over the weekend.
For every loss there should be at least an equal and opposite profit.
The voting result was a bit surprising for me and now Italy will end up in political crisis after the resignation of Renzi. Will follow the next news closely. Good that you opened this discussion! 😄
For me the result was unsurprising (expect the unexpected - Brexit, Trump... etc.). The volatility was a slight surprise being less than expected thanks to the ECB (maybe a good thing for accounts, but not for profit seekers).
For every loss there should be at least an equal and opposite profit.
xgavinc posted:
For me the result was unsurprising (expect the unexpected - Brexit, Trump... etc.).
Yes, true!
Will expect the EUR it to just fall back to it's pre-referendum levels against both USD (~1.0675) and JPY (<122).
Dec 06 2016 at 11:19
I think it will reach 1.08 - 1.09 before dropping again.
The slide appear to have started already, EURUSD from 1.0785 to 1.0735 and EURJPY from 122.90 to 122.20.
Dec 06 2016 at 12:45
stian posted:I hope so :)
Will expect the EUR it to just fall back to it's pre-referendum levels against both USD (~1.0675) and JPY (<122).
Good to see 'some' movement in the market today... it's been sideways for me the last 2-3 weeks now 🙄
For every loss there should be at least an equal and opposite profit.
Dec 06 2016 at 15:44
xgavinc posted:
Good to see 'some' movement in the market today... it's been sideways for me the last 2-3 weeks now 🙄
Yes finally but it seems we entered a new flat range just a bit upper after the referendum 😄
yes, market has been slow
Trade hard
Dec 07 2016 at 11:07
I doubt there will be much movement before FED announces whether they will increase the interest rate on the 14th.
I think the immediate effect of the referendum is gone. It seems to me that the political instability in Italy will not have that much impact on the euro in the end. What happens in the US is much more significant.
Let's see the elections impact now after the referendum. Maybe Italian will still vote for political stability after the resignation of their PM. This could be good news for the euro.
stian posted:
Will expect the EUR it to just fall back to it's pre-referendum levels against both USD (~1.0675) and JPY (<122).
Yees, I was thinking the same thing. My positions are already on the market – let’s see if this will happen. Can’t wait to make some profits here 😄
Accept the loss as experience
I agree with MC85 there will only be a reaction from Euro is there is very significant instability in Italy. It has long been know that the economy in Italy is weak so it is no surprise. It would take an Italian government to say they want our of the Euro or they are going to default on some debt for there to be any big impact
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