The morning session is over on this Wednesday, so let’s see how things are shaping up in the Forex markets.
Euro/Dollar has been trending higher and the pair is point 33% up from the opening level. Traded volume is average and sentiment of the market players is bearish, standing 16% short. Gradual rise has brought risks for traders as they mostly had short positions.
Pound/Dollar shot up by 70 pips and a gain of point 32% was recorded at 12 o’clock. The Cable sees 39% less than typical funds and most of the traders have been forecasting the rate to head lower. Steep rise has brought risks, but they should be limited by the slow trading.
Dollar/Yen has walked in a total range of just 37 pips, attracting only half of the monthly average funds. Sentiment of the traders is neutral, long positions are in the lead by 10%. Changes in trading accounts shouldn’t be significant due to the calm trading and narrow price movement range.
Pound/Yen rose by a total of 75 pips and uptrend has resulted in a gain of point 41%. Traded volume is extremely low and most of the market players have been forecasting the rate to head South, sentiment is strongly bearish. Uptrend has brought serious risks, but the passive trading should help to manage losses.
Euro/Yen’s chart shows a bullish pattern and the pair stood point 41% in the green at midday. Traded volume is average and most of the market players have been forecasting the rate to head lower. Uptrend makes losses more likely for investors.
I’m Celeste Skinner and that’s how things look so far, but we’ll be providing you with the latest data throughout the day, so stay tuned.
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