07.09.2016 – Midday Snapshot by Dukascopy

By | September 7, 2016

The morning session is over this Wednesday, so let’s see how things have been shaping up for the market players.
Euro/Dollar’s rate movement has been calmer than usual – high and low difference is just 33 pips, but traded volume is average. Sentiment of the traders is neutral, 4% long. Flat rate movement suggests no major moves in trading accounts are likely.
Pound/Dollar declined by 66 pips after 6 o’clock and decline puts the pair point 37% in the red. The Cable sees 29% more than typical funds and the neutral sentiment of the traders is 13% long. Late decline makes a successful morning session is more likely for bears.
Dollar/Yen declined early on, but all of the loss was recovered in a following rise. Traded volume is average and the neutral sentiment of the traders is 4% long. Both sides have had their chances as a single trend hasn’t formed.
Pound/Yen dropped by 78 pips after reaching the high of 136 43. Turnover is low and most of the traders have been forecasting the rate to head lower. Trading should be successful if it was done after the daily high was reached.
Euro/Yen spiked early in the session, but rate movement has been flat afterwards. Traders have used almost double the monthly average funds and sentiment of the traders is neutral, 9% short. Both sides have had their chances during the early spike.
I’m Sam Meredith and that’s the situation so far, but you may track the latest developments with our hourly updates.

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