20.07.2016 – Midday Snapshot by Dukascopy

By | July 20, 2016

The morning session is over on this Wednesday, so let’s see how things are shaping up for the market players.
Euro/Dollar was back near the opening level after walking in the total range of just 40 pips. Trading has been active, and the sentiment is neutral at 10% short. The narrow rate movement should limit any shifts in funds.
The Cable has had a bullish session, and a gain of 135 pips left it point 53% up from the opening level at noon. Traded volume is in line with the monthly average, and the neutral trader’s sentiment stands at 5% long. The uptrend makes success much more likely for bulls.
Dollar/Yen has been moving higher for most of the session, gaining 89 pips, and it stood point 36% in the green at midday. Trading has been typical in terms of volume, and the sentiment is neutral at just 2% long. Going long has been the winning strategy.
Pound/Yen’s daily volatility of 246 pips was posted during a rise, although a subsequent correction left it point 88% in the green at noon. Traded volume is 20% down from the monthly average, and the sentiment is bullish at 18% long. Success is very likely for traders.
And Euro/Yen is up as well, having gained 99 pips or point 34%. Trading has been somewhat slower than usual, but the sentiment is strongly bullish at 46% long. The uptrend suggests success is likely, although the rate did slip at times.
I’m Sam Meredith and that’s how things look so far. Stay tuned for the hourly updates.

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