24.10.2016 – Midday Snapshot by Dukascopy

By | October 24, 2016

It’s 12 PM GMT on this Monday, and it’s time for the Dukascopy Midday Snapshot.
Euro/Dollar’s initial decline was followed by a gain of 40 pips, which left it a fraction in the green at noon. Traded volume is one third down from the usual amount, and traders sentiment is neutral at 3% long. The overall trend has been a bit more favourable for bulls.
The Cable follows a similar pattern, as it started moving up after 2 AM, gaining 65 pips. It stood point 13% in the green at noon. Traded volume is in line with the monthly average, and the sentiment is completely neutral, at a balance. The uptrend makes success more likely for bulls.
Dollar/Yen was back near the opening level after walking in the total range of 32 pips. Trading has been slow, and the neutral trader’s sentiment stands at 7% long. Both the slow trading and the narrow rate movement make any major profits or losses unlikely.
Pound/Yen has had a bullish start of the week, and a gain of 73 pips left it point 22% in the green at noon, but trading once again has been slower than usual. The sentiment is neutral at 2% long. Bulls have been in better positions so far, although success will be limited by the slow trading.
And Euro/Yen’s overall trend has been bullish as well; it’s up by 51 pips, and it stood point 17% in the green at 12 o’clock. Once again, trading has been slow, but the sentiment indeed is bullish as long positions are up by 31%. Success is likely for most traders, although more funding would’ve brought more profit.
I’m Celeste Skinner and that’s how things look so far. You may track the latest movements with the hourly updates.

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