We are half way through this week’s last trading day so let’s see how market players have performed so far.
Euro/Dollar has been climbing slowly higher to trade point 15% up from the opening level at noon. Traded volume is average and most of the market players have been forecasting the rate to head South. Gradual rise makes losses more likely for market players.
Pound/Dollar reached the daily high shortly before 5 AM, but a following decline wiped out all of the gain. The Cable sees more than double the monthly average funds and the neutral sentiment of the traders is 5% short. Trend has changed and success depends on the timing of the trades.
Dollar/Yen shot up shortly after midnight and rate movement has been relatively calm afterwards. Turnover is 52% up from the pair’s typical and the neutral sentiment of the traders is 1% short. Early surge makes profits more likely for those who had long positions.
Pound/Yen gained 289 pips early on, but some of the gains were given up in a following correction. Traded volume is average and sentiment of the traders is neutral, 6% short. Early hours should be successful for bulls, but reversal provided some chances for bears as well.
Euro/Yen has been mostly flat after rising by 165 pips early in the session. Traded volume is high and sentiment of the traders is neutral, close to a balance. Steep rise suggests profits are more likely for bullish market players.
I’m Celeste Skinner and that’s it for Friday’s Midday Snapshot. We`ll be updating these stats every hour so stay tuned.
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