It’s midpoint of this week’s last trading week so let’s see how well market players have managed to work out the rate shifts.
First half of the morning session was bearish for the Euro/Dollar, but a following rise has wiped out all of the loss. Traded volume is low and the neutral sentiment of the market players is 8% short. Bears had plenty of profit opportunities during the early trading hours, but the change in trend was good news for bulls.
Pound/Dollar lost a total of 100 pips, before rising from the daily low of 1 3250. The Cable sees just close to half of the monthly average funds and the bullish sentiment of the traders is leaning towards the long side by 16%. Downtrend suggests losses for investors, but the passive trading is the limiting factor.
Dollar/Yen has been on a slide and it puts the rate point 45% in the red. Turnover is 20% short of the pair’s monthly average and sentiment of the traders is neutral, long positions are up by 2%. There have been plenty of profit opportunities for those who had short positions.
Pound/Yen’s steep decline puts the pair point 74% down from the opening level at 12 o’clock. Traded volume is extremely low and the neutral sentiment of the traders is 13% long. Steep slide puts bears in better positions here as well, but the passive trading is what should limit moves in funds.
Euro/Yen’s decline measures at 89 pips, but a following rise has cancelled out some of the loss. Traders have used 23% more than typical funds trading this pair and they have been mostly forecasting the rate to head higher. Trading should be successful if it was done after the daily low was reached.
I’m Celeste Skinner and this was the Midday Snapshot for Friday. We`ll be updating these stats on an hourly basis, so click back.
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