Let’s see how traders have performed during the morning session on this Wednesday, in the aftermath of the US elections.
Euro/Dollar rose by more than 300 pips to hit the high at 1 13, but most of the gains have been given up. Trading has been active, this pair has attracted more than double the monthly average funds and sentiment is neutral, at a balance. Early hours should be successful for bulls, but the change in trend was good news for bearish market players.
Pound/Dollar shows a similar pattern – steep rise was followed by a drop, leaving gain of point 5% at midday. The Cable sees 22% more than typical funds and the neutral sentiment of the traders is just 2% short. Steep rise was followed by a drop, providing both sides with their profit opportunities here as well.
Dollar/Yen rose from the daily low of 101 19, but the pair was still close to 2% in the red at noon. Traded volume is extremely high and the neutral sentiment of the traders is just 3% long. Bears have been in better positions, but the bounce back from the daily low provided bulls with some chances as well.
Pound/Yen recovered losses only partially and the pair stood 1.27% in the negative territory at 12 o’clock. Turnover is high and sentiment of the traders is neutral. Steep slide suggests a successful morning session is more likely for bears, but the gradual rise was good news for bulls.
Euro/Yen was more than 1% in the red at midday after rising from the daily low of 113 72. This pair sees close to double the monthly average funds and sentiment of the traders is neutral, 12% short. Steep slide has provided bears with solid profit chances and limited opportunities were there for bulls as the rate rose from the daily low.
I’m Celeste Skinner and that’s it for Wednesday’s Midday Snapshot, but these stats will be updated on an hourly basis, so check back.
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