21.07.2016 – Midday Snapshot by Dukascopy

By | July 21, 2016

It’s 12 PM GMT, so let’s take a look at rate movements and trader performance.
Euro/Dollar has had a calm session, and the pair was back at the opening level after walking in the total range of 43 pips. Still, trading has been active, and the sentiment is neutral at 5% short. Success depends on timing, and the high volume may offset the sluggish rate movement to some extent.
Pound/Dollar saw a strong drop of 114 pips after 7 o’clock, and it stood point 53% in the red at noon. Trading has been typical in terms of volume, and the sentiment is neutral at 4% long. Success is very likely for bears, although bulls did have some limited chances.
Dollar/Yen has also seen a drop, losing 207 pips, although it did recover some ground and the total loss reached point 81% at 12 o’clock. Traded volume is 56% up from the monthly average, and the neutral trader’s sentiment stands at 3% long. Once again, bears have been in much better positions.
Pound/Yen dropped by 321 pips after 7 o’clock, and the pair was 1.34% in the red at midday. Traders have used 28% more funding than usual, and the sentiment is very close to a balance. The sudden drop was great news for bears.
And Euro/Yen is yet another pair that has seen a decline, as it was point 85% down from the opening level after losing 232 pips. Trading again has been active, and the sentiment is neutral at 5% long. Going long on Yen has been the winning bet during this session.
I’m Sam Meredith and you’ve been watching the Midday Snapshot for Thursday. You may track the latest movements with the hourly updates.

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