It’s noon GMT on this Wednesday and time for the Dukascopy Midday Snapshot.
Euro/Dollar has been calmer than usual, walking in a total range of 43 pips and traded volume is average. Neutral sentiment of the market players is leaning towards the long side by 12%. Both sides have seen limited chances as the rate movement has been generally flat.
Pound/Dollar rose early in the day, but it was followed by a decline. The Cable sees 24% less than typical funds and the neutral sentiment of the traders is 4% short. No performance patterns can be identified as a single trend hasn’t formed.
Dollar/Yen rose after the early decline to trade a fraction in the red at noon. Turnover is high, 46% up from the pair’s monthly average and the neutral sentiment of the traders is at a balance. Success depends on timing of the trades as the trend has shifted.
Pound/Yen stood back near the opening level at midday after walking in a total range of 185 pips. Trading has been active, volume is high and the neutral sentiment of the traders is 2% long. Both sides have had their chances and risks as the trend has been changing.
Euro/Yen rose from the early low to trade slightly in the green at 12 o’clock. Traded volume is low and the neutral sentiment of the traders is 9% long. Bears had their chances early on, but the following rise was good news for bulls.
I’m Sam Meredith and this wraps up the Midday Snapshot for Wednesday, but we`ll be updating these stats every hour, so stay tuned.
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