This is the Dukascopy Midday Snapshot for Monday, where we’ll take a closer look at how well the market players have worked out the rate movements.
Euro/Dollar was heading up for hours, but some of the gains were given up late in the session. Traded volume is average and sentiment of the traders is neutral, short positions are up by just 4%. Rate has been heading higher during most of the day, making profits more likely for bulls.
Pound/Dollar was flat for hours, but a late rise has resulted in a gain of point 49%. The Cable has attracted 26% less than typical funds and most of the market players have been forecasting the rate to move lower. Late rise was bad news for investors, but the passive trading is the limiting factor.
Dollar/Yen rose early on, but all of the gains were wiped out in a following decline. Traded volume is average and neutral sentiment of the market players is 9% short. Changing trend makes it difficult to draw any conclusions regarding performance of the market players.
Pound/Yen dropped by close to 100 pips, but a following rise took the rate back near the opening level. Turnover is high and sentiment of the traders is neutral, standing 12% short. Drop was followed by a rise, so success depends on the timing of the trades.
Euro/Yen’s uptrend lasted 8 hours, but most of the gains have been given up. Trading has been active, volume is high and most of the funds have been driven by bearish expectations. Traders had their chances after the daily high was reached.
I’m Jack Everitt and that’s all for Monday’s Midday Snapshot, but these stats are updated throughout the day, so check back.
You can view this video and the full video archive on the Dukascopy TV page: http://www.dukascopy.com/tv/en/#199408
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