The morning session is over this Thursday, so let’s find out how things are shaping up for the market players.
Euro/Dollar has been gradually moving North to trade point 23% in the green at noon. Traded volume is low and the neural sentiment of the traders is just 8% short. Uptrend makes a successful morning session more likely for bullish market players.
Pound/Dollar has been heading in the opposite direction and that’s South. The Cable sees just 19% less than typical funds and the neutral sentiment of the traders is 10% short. There have been plenty of profit opportunities for the small majority of the traders that had short positions.
Dollar/Yen declined by 32 pips, but a following rise has wiped out most of the loss. Traded volume is extremely low and sentiment of the market players is neutral, 8% long. Both sides have seen some chances, but the passive trading is the limiting factor.
Pound/Yen declined by close to 100 pips to trade point 44% in the red at midday. This pair sees 22% less than typical funds and neutral sentiment of the traders is close to a balance. Downtrend suggests a successful start of the day is more likely for bears.
Euro/Yen has had a slow session so far, walking in a total range of 37 pips, attracting 26% less than average funds. Most of the traders have been forecasting the rate to head higher. Passive trading along with the narrow price movement range should limit changes in trading accounts.
I’m Celeste Skinner and that’s all for Thursday’s Midday Snapshot, but you may track the latest developments with the hourly updates.
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