We’re halfway through this week’s first trading day, so let’s see how things have been shaping up for forex traders.
Euro/Dollar’s start of the week has been calm – rate movement is flat and traded volume is low. Neutral sentiment of the traders is leaning towards the short side by 12%. Both the calm trading and flat rate movement suggest no major moves in funds are likely.
Pound/Dollar has been on a rise and it puts the pair point 28% in the green at noon. The Cable has attracted 24% less than typical funds and most of the market players have been bearish in their expectations. Uptrend makes losses more likely, but they should be cushioned by the calm trading.
Dollar/Yen declined from the early high and the pair stands point 47% South of the opening level at midday. Trading has been passive, volume is extremely low and the neutral sentiment of the traders is 12% short. Trading should be successful for bears, but the calm trading is the limiting factor.
Pound/Yen spiked hours into the trading day and a slight loss was posteds s12 o’clock. Traded volume is extremely low and the neutral sentiment of the traders is just 7% long. Both sides have seen their chances, but moves in funds should be limited by the passive trading.
Euro/Yen’s day has been bearish so far and downtrend has resulted in a loss of point 43%. Turnover is low and most of the market players have been bearish in their expectations. The rate did go per those forecasts, making profits very much likely.
I’m Jessica Walker and that’s all for Monday’s Midday Snapshot, but these stats are updated on an hourly basis, so check back.
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