This is the Dukascopy Midday Snapshot for Thursday, where we’ll take a closer look at how well the market players have worked out the rate movements.
Euro/Dollar rose by 56 pips after 6 o’clock to trade point 27% in the green at noon. Traded volume is average and sentiment of the traders is neutral, short positions are up by just 2%. Late rise suggests a successful morning session for those who had long positions.
Pound/Dollar reached the high at just slightly above the 1 25 level after gaining close to 100 pips. The Cable sees less than half of the monthly average funds and sentiment of the traders is neutral, but it’s standing 12% long. Uptrend was good news for bulls, but the calm trading is the limiting factor.
Dollar/Yen’s trend changed after the high of 109 47 was reached and only a slight gain was posted at midday. Turnover is high and most of the traders have been forecasting the rate to move lower. Trading should be successful if it was done after the daily high was reached.
Pound/Yen has been mostly moving higher and a gain of point 58% has been recorded. Traded volume is low and the neutral sentiment of the traders is just 1% long. Upward pressure has been stronger so far, putting bullish market players is better positions.
Euro/Yen has been on a rise and it has resulted in a gain of point 43%. Trading has been typical in terms of volume and sentiment of the market players is bearish, short positions outweigh long ones by 23%. Rate has been mostly moving higher, suggesting losses for investors.
I’m Celeste Skinner and that’s how things look so far, but these stats are updated on an hourly basis, so check back.
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