This week’s second trading day is half way over and it’s time for us to reflect on the performance of the market players.
Euro/Dollar has been on a slide and it took the pair point 56% in the red at noon. Turnover is high and sentiment of the traders is neutral, long positions are up by only 2%. Steep decline makes a successful morning session more likely for those who had short positions.
Pound/Dollar’s decline puts it point a half a percent South of the opening level at midday. The Cable sees 39% less than average funds and sentiment of the traders is neutral, 10% long. Bears have been in better positions so far, but the passive trading is the limiting factor.
Dollar/Yen hit the daily low of 105 63 as the pair moved South by 80 pips. Traded volume is average and most of the traders have been forecasting the rate to head higher. Downtrend has brought risks for market players that have been bullish in their expectations.
Pound/Yen’s chart shows steep downtrend and it puts the pair point 73% in the red at noon. Trading has been active, volume is high and the neutral sentiment of the traders is just 4% long. Bearish rate movement suggests a successful start of the day for bearish traders.
Euro/Yen took a slide from the early high to trade point 79% down from the opening level at 12 o’clock. This pair sees 26% less than average funds and most of the traders have been bearish in their expectations. The rate did go per those forecasts, making profits very much likely.
I’m Sam Meredith and this wraps up the Midday Snapshot for Tuesday, but these stats will be updated every hour, so stay tuned.
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