It’s midpoint of this week’s first trading day and time for the Dukascopy Midday Snapshot.
Euro/Dollar has walked in a narrow range of only 35 pips, but the pair has attracted an average amount of funds. Neutral sentiment of the traders is 13% short. Rate movement has been generally flat, suggesting no major changes in trading accounts are likely.
Pound/Dollar spiked by 83 pips, but most of the day has been calm in terms of the rate movement. The Cable sees 21% more than typical funds and sentiment of the traders is neutral, 7% short. Both sides have seen some chances during the spike, but the flat rate movement should limit moves in funds.
Dollar/Yen rose in a couple of waves by a total of 55 pips, but some of the gains have been given up. Trading has been passive, volume is extremely low and most of the traders have been forecasting the rate to move higher. Traders had their chances during the rises, but the calm trading is what should limit moves in funds.
Pound/Yen stood point 52% up from the opening level at noon after walking in a total range of 111 pips. Traded volume is average and sentiment of the traders is neutral, at a balance. Success depends on the timing of the trades as a single trend hasn’t formed.
Euro/Yen shot up by 62 pips early in the session, but most of the gain was given up. Traded volume is average and sentiment of the traders is neutral, just 10% short. Early hours should be successful for bulls, but the following decline was good news for bears.
I’m Sam Meredith and this was the Midday Snapshot for Monday. We`ll be updating these stats on an hourly basis, so stay tuned.
You can view this video and the full video archive on the Dukascopy TV page: http://www.dukascopy.com/tv/en/#189288
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