27.10.2016 – Midday Snapshot by Dukascopy

By | October 27, 2016

The morning session is over on this Thursday, so let’s see how things are shaping up for the FX traders.
Euro/Dollar’s early dip was followed by a gradual rise, which puts the pair point 16% up from the opening level. Traded volume is average and sentiment of the traders is neutral, short positions are up by just 1%. Gradual rise makes a profitable morning session more likely for bulls.
Pound/Dollar rose sharply in a couple of waves and a gain of just point 1% was posted at noon. The Cable sees a typical amount of funds and sentiment of the traders is neutral, 2% long. Bulls have been in better positions, but the pull back provided bears with their chances as well.
Dollar/Yen rose after the early decline, cancelling out all of the loss. Traded volume is average and sentiment of the market players is neutral, at a balance. Early hours were in favor for bears, but the following rise was good news for bulls.
Pound/Yen hit the low of 127 42 early in the day, but a following rise puts the pair point 25% in the green. This pair sees 33% less than typical funds and most of the market players have been forecasting the pair to move higher. Trading should be successful if it was done after the early decline.
Euro/Yen shot up from the early low as well and the pair stands point 32% in the green at 12 o’clock. Turnover is low and sentiment of traders is strongly bullish, long positions dominate by 49%. There were some risks early on, but the following surge was good news for investors.
I’m Jack Everitt 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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