With the EU referendum vote out of the way, we now can start to focus on other things. Having said that though, keep in mind that there will be a lot of volatility when it comes to all things European at the moment, as there are still a lot of questions left. With this, we look at the following 3 assets:
Gold
Gold markets continued to strengthen a bit during the session on Monday, and as a result it looks as if the call buyers continue to press the issue. It makes quite a bit of sense, because at this point in time there isn’t a whole lot of trust when it comes to currencies in general. We have broken above the vital $1300 level, so one would have to think the call buyers are probably fairly enthusiastic.
DAX
While many people are out there worried about what’s going to happen to the United Kingdom, the reality is that Europe is going to suffer by the United Kingdom leaving as well. With that being the case, it’s not surprising that the DAX could not hang onto the short-term rally that formed on Monday after the gap lower. Because of this, looks like the put buyers are still very much in control.
EUR/USD
The EUR/USD pair gapped lower at the open on Monday, turned back around to fill that gap, and then fell again. Ultimately, this is a market that will probably continue to see quite a bit of bearish pressure, so therefore it looks as if the put buyers will certainly be emboldened, as there is a massive amount of uncertainty.
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