At the start of the US trading session on Monday, EUR/USD was trading close to the mid-point of the daily range (1.1308-1.1383), after the major pair followed GBP/USD and began the current week with a gap up. Short-term resistance is to be encountered within the 1.1375-1.1390 area, while the hourly 20-period Exponential Moving Average (1.1327) may act as a short-term support.
GBP/USD advanced sharply today, as market concerns over a potential Brexit faded, after a series of weekend polls had revealed that the “Remain” campaign regained traction mere days before the highly anticipated EU membership referendum. The implied probability that UK voters will support the EU membership on June 23rd rose to 72% from 65% earlier. The pair went up as high as 1.4672 during the early phase of European trade, or its highest level since May 31st, after which consolidated in the 1.4650-1.4660 area.
USD/CAD lost ground suddenly and registered an intraday low of 1.2774 at the start of US trade on Monday, or its lowest level since June 13th, as crude oil futures for delivery in August neared the $50 mark and were poised to register a second straight day of gains. Support may be received at the low from June 13th (1.2747) and then – at the weekly S2 pivot (1.2732).
Gold futures for August delivery distanced from recent 22-month highs, but held above the $1,280 handle on Monday. A break below that level may see the commodity supported at the hourly 200-period EMA ($1,276.46 per troy ounce) and then – at the weekly S1 pivot ($1,271.53).
TradingPedia.com is a financial media specialized in providing daily news and education covering Forex, equities and commodities. Our academies for traders cover 
