The morning session is over this Thursday, so let’s see how things have been shaping up for the market players.
Euro/Dollar has walked in a narrow range of 35 pips, but traded volume is high, 23% up from the monthly average. Sentiment of the traders is neutral, 6% long. Narrow price movement range suggests no major moves in trading accounts are likely.
Pound/Dollar has been heading lower to trade point 46% in the red at noon. Traded volume is average and the neutral sentiment of the traders is 12% long. Bearish rate movement makes a successful start of the day is more likely for those who had short positions.
Dollar/Yen’s early decline was followed by a rise, which cancelled out some of the loss. This pair sees a typical amount of funds and the neutral sentiment of the traders is just 4% short. Both sides have had their chances as the trend has changed.
Pound/Yen moved South in a couple of waves and declines put the pair point 71% in the red. Traded volume is average and the neutral sentiment of the traders is just 3% long. Declines put the bearish market players in better positions.
Euro/Yen was recovering after the early drop, but it was still point 24% South of the opening level at 12 o’clock. Turnover is low and most of the traders have been forecasting the rate to head higher. Trading should be successful if it was done after the low of 114 64 was reached.
I’m Kiays Khalil and you’ve been watching the Midday Snapshot for Thursday. Stay tuned for the hourly updates.
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