We’re halfway through this week’s first trading day, so let’s see how things are shaping up for the market players.
Euro/Dollar moved sharply down in a couple of waves and a loss of point 35% was posted at noon as the pair rose from the daily low. Turnover is high, 49% up from the pair’s monthly average and sentiment of the traders is neutral, short positions are up by 8%. Downward pressure has been stronger so far, making profits more likely for bearish market players.
Pound/Dollar declined by more than 100 pips, but a late rise cancelled out some of the loss. The Cable sees 41% more than typical funds and neutral sentiment of the traders is 12% short. Profits are more likely for bears, but the late rise was good opportunity for long positions.
Dollar/Yen’s day has been bullish and a gain of almost 1% was posted at midday. Turnover is high and sentiment of the market players is neutral, 8% short. Rate has been moving sharply higher, suggesting a successful morning session for those who were long.
Pound/Yen’s uptrend puts the pair point 5% up from the opening level at 12 o’clock. Trading has been typical in terms of volume and neutral sentiment of the traders is leaning towards the long side by 12%. Rate movement has been bullish, providing plenty of profit chances for those who were long.
Euro/Yen gained a total of 82 pips to trade point 53% in the green at noon. Turnover is low and sentiment of the market players is neutral, long position are in the lead by 9%. This has been a bullish day for this pair, providing plenty of profit chances for those who had long positions.
I’m Jessica Walker and that concludes the Midday Snapshot for Monday. Check back in throughout the day for the latest updates.
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