01.11.2016 – Midday Snapshot by Dukascopy

By | November 1, 2016

It’s 12 o’clock on the first trading day of November, so let’s look back at performance of the traders.
Euro/Dollar rose by a total of 74 pips to break through the 1 10 level and a gain of point 51% has been posted. Turnover is high and neutral sentiment of the traders is leaning towards the short side by 6%. Bullish morning session suggests a successful start of the day for those who had long positions.
Pound/Dollar’s rise was followed by a decline and all of the gain has been wiped out. The Cable sees an average amount of funds and sentiment of the market players is neutral, at a balance. Both sides have had their chances and risks as the trend has shifted.
Dollar/Yen retreated from the high of 105 12 and only a slight gain was recorded at midday. Traded volume is average and the neutral sentiment of the traders is 5% short. Uptrend has provided plenty of profit opportunities for bulls, but the late pull back was good news for bears.
Pound/Yen’s sharp rise was followed by an almost equally sharp decline. Turnover is low here and sentiment of the traders is just 3% long. Success depends on the timing of the trades, but the calm trading is the limiting factor for both sides.
Euro/Yen has shot up by 87 pips and rise has resulted in a gain of point 52%. Traded volume is average and most of the market players have been expecting the rate to move higher, sentiment is bullish. It did go per those expectations, suggesting profits for investors.
I’m Jack Everitt and you’ve been watching the Midday Snapshot for Tuesday. Click back for the hourly updates, but for now, goodbye.

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