The morning session is over on this Monday, so it’s time for the Dukascopy Midday Snapshot.
Euro/Dollar’s day has been relatively slow, the pair has declined by 54 pips to trade point 1% in the red at noon. Traded volume is average and the neutral sentiment of the traders is almost at a balance. Decline makes a successful start of the day more likely for those who had short positions.
Pound/Dollar moved South by 51 pips, but a following rise cancelled out all of the loss. The Cable sees 33% less than typical funds and most of the market players have been forecasting the rate to head South, sentiment is bearish. Traders have seen limited chances as rate movement has been calm and trading slow.
Dollar/Yen has been heading lower and downtrend has resulted in a loss of point 66%. Traded volume is average and sentiment of the traders is neutral. Rate has been on a slide, making a successful morning session more likely for bearish market players.
Pound/Yen’s decline puts the pair point 57% in the red at midday. Turnover is average and the neutral sentiment of the traders is just 3% short. Bears have been in better positions so far as the rate has been trending lower.
Euro/Yen took a slide after 7 o’clock and it puts the pair point 76% in the negative territory. Traded volume is low and sentiment of the traders is neutral at 7% short. Decline has provided solid chances for bears, but the calm trading should limit moves in trading accounts.
I’m Sam Meredith and that’s the situation so far, but do check back for the hourly updates.
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