We’re halfway through this week’s last trading day, so let’s see how things are shaping up for the market players.
Euro/Dollar has had another calm session, as the daily volatility is a very anemic 29 pips. The pair was a fraction down from the opening level at noon. Still, trading has been active, and the sentiment is neutral at 7% short. Performance is difficult to assess as no clear trend has formed so far.
The Cable saw a sharp drop after 8 o’clock, losing 207 pips, and the total loss reached point 91% at midday. Traded volume is 40% up from the monthly average, and the neutral trader’s sentiment stands at 3% long. Bears had some great opportunities for profit whereas bulls faced risks.
Dollar/Yen, on the other hand, has had a bullish session, as a gain of 72 pips left it point 26% in the green at 12 o’clock. Traders have used 23% less funding than usual, and the sentiment is neutral at 8% short. Trading should be successful for bulls, but a bolder approach would have increased the profits.
Pound/Yen’s initial rise was followed by a drop of 231 pips, which left it point 65% in the red at noon. This pair sees 27% less funding than usual, and the sentiment is bearish as short positions prevail by 16%. Trading should be successful if positions were not closed in the first half of the session.
And Euro/Yen has been inching higher for most of the session, gaining 89 pips. The pair was point 19% up from the opening level after 12 hours. Trading has been typical in terms of volume, and the sentiment is neutral at 7% long. Bulls have been in better positions so far.
This was the Midday Snapshot for Friday with me, Kiays Khalil. Check back in for the hourly updates.
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