Let’s see how successful morning session has been for market players on this Friday, shortly before the US employment report data is released.
Euro/Dollar’s gradual decline was followed by a rise, which wiped out all of the loss. Traded volume is average and sentiment of the traders is neutral, 10% short. Changing trend has provided both of the close to equal sides with their chances.
Pound/Dollar dropped to the low of 1 2227 hours into the trading day, but a following rise has taken the rate back near the opening level. Turnover is high and the neutral sentiment of the traders is leaning towards the short side by 5%. Success depends on the timing of the trades as the drop was followed by a rise.
Dollar/Yen’s trend has changed and only a slight loss was posted at noon. This pair has been traded passively, volume is extremely low and the neutral sentiment of the market players is just 9% long. Changed in trading accounts shouldn’t be significant due to the slow trading.
Pound/Yen plummeted by almost 300 pips, but the pair rose from the daily low to trade point 3% South of the opening level. Traded volume is average and sentiment of the market players is neutral, just 3% short. It’s difficult to draw any conclusions regarding performance as the rate moved sharply in both directions.
Euro/Yen’s day has been calmer than usual – high and low difference is just 51 pips and traded volume is extremely low. Most of the traders have been bullish in their expectations. Both the passive trading and narrow price movement range suggest no major profits or losses are likely.
I’m Sam Meredith and this was the Midday Snapshot for Friday, but do click back for the hourly updates.
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