The joke doing the rounds is that it took three days for the market to recover from Brexit, three hours to recover from Trump and three minutes to recover from Italy. After some brief sharp weakness, as the referendum result came out, global markets have bounced back stronger than ever.
EUR/USD moves were phenomenal. Yesterday’s range was the biggest since Brexit, beating the Trump-related moves.
We have just reached a weekly 50% Fibonacci retracement (Blue line) for a sell off.