04.08.2016 – Midday Snapshot by Dukascopy

By | August 4, 2016

Let’s find out how successful morning session has been for currency traders as Mark Carney delivers monetary policy speech on this Thursday.
Euro/Dollar has been trending slowly lower to stand point 25% South of the opening level at noon. Traded volume is average and sentiment of the traders is neutral, 7% short. Gradual downtrend makes profits more likely for those who had short positions.
The Cable dropped as the Bank of England cut interest rate and the pair stands 1.33% in the red. Trading has been active, volume is high and sentiment of the traders is neutral, long positions are up by only 5%. Late drop was good news for those who were short.
Dollar/Yen rose after the early decline and the pair was back near the opening level at midday. Traded volume is average and sentiment of the traders is neutral, just 7% short. Changing trend has provided both of the sides with their profit chances.
Sterling/Yen took a nosedive as midday approached and the pair is 1 point 47% in the negative territory. Turnover is high and most of the traders were bullish in their expectations. Late drop has brought risks for investors.
Euro/Yen’s trend has been shifting and a loss of point 4% was posted at 12 o’clock. Traded volume is average and most of the market players have been forecasting the rate to move South. Trend has shifted during the day and success depends on the timing of the trades.
I’m Kiays Khalil and that’s it for the 12 o’clock report, but do click back for the hourly updates.

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