Profit: $1.59 Total: $1,302.22
Bregret is the feeling Britain feels at the moment. The people who voted for the Brexit are questioning if they made a right decision. The global market altogether lost a record of $2.1 trillion dollars. There are even petitions out to have another vote but Carney made it clear that the decision is final. Yellen decided to pullout of the Summits meeting, probably busy having a meeting with the other Fed members. The Brexit definitely had a huge impact on the Fed’s decision on their rate hike. The contagion effect will probably continue further.
Although GBP/USD and EUR/USD made new lows, over Sunday’s opening I decided not to trade. I was definitely tempted but after seeing some retracements on Friday, I wasn’t sure where the market was deciding to go. Today’s session was rather calm so I decided to play things safe. I did some quick USD/CAD long scalps as oil was falling and waited for some majors move that never came. Sure the GBP/USD and EUR/USD looks great to pick bottom but I’m staying betting that they will make lower lows. Remember, bottom picking is a smelly business.