This is the Midday Snapshot where we’ll see how currency traders have been doing so far this Tuesday.
Euro/Dollar shot up by a total of 123 pips to hit the daily high of 1 13. Trading has been active, volume is high and sentiment of the traders is neutral, long positions are in the lead by only 3%. Steep rise has provided solid profit opportunities for those who had long positions.
Pound/Dollar has been on a rise, moving towards the 1 30 level. The Cable sees close to double the monthly average funds and neutral sentiment of the traders is leaning towards the long side by 13%. A successful morning session is very much likely for the small majority of the traders that had long positions.
Dollar/Yen took a slide, breaking though the 100 level and the pair is more than 1% in the red at noon. Turnover is a considerable 108% up from the monthly average and sentiment of the traders is bullish. Steep slide has brought serious risks for investors.
Pound/Yen rebounded after hitting the low of 129 24, but another decline puts the pair point 76% south of the opening level at midday. This pair sees 25% less than typical funds and sentiment of the traders is neutral, 8% long. Bears have been in better positions so far, but the bounce back provided some chances for bulls as well.
Euro/Yen rose after the early drop and the pair stands point 4% in the negative territory at 12 o’clock. Trading has been active, volume is high and sentiment of the traders is neutral, 9% short. Change in trend has provided both of the sides with their chances and risks.
I’m Kiays Khalil and this was the Midday Snapshot for Tuesday. We’ll be updating these stats on an hourly basis, so stay tuned.
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