28.09.2016 – Midday Snapshot by Dukascopy

By | September 28, 2016

FX markets have been calmer than usual during the last 12 hours, so let’s take a closer look with the Dukascopy Midday Snapshot.
Euro/Dollar declined to hit the daily low of 1 1182 after 7 o’clock, but a following rise took the rate back above the opening level. Traded volume is average and the neutral sentiment of the traders is just 3% long. Both sides have seen only limited chances as the rate movement has been calmer than usual.
Pound/Dollar has walked in a total range of just 49 pips and traded volume is average. Most of the market players have been forecasting the rate to head higher, sentiment is bullish. Once again, the flat rate movement suggests no major moves in trading accounts are likely.
Dollar/Yen has been trending gradually higher and a gain of point 1% was posted at noon due to a correction. Traded volume is extremely low and sentiment of the traders is bearish, short positions are in the lead by 16%. Correction provided some chances for traders, but they should be minimal due to the slow trading.
Pound/Yen rose slowly to stand point 17% up from the opening level at midday. Turnover is high and sentiment of the traders is neutral, 5% short. Trading should be successful for market players that had long positions.
Euro/Yen rose by 58 pips after 7 o’clock, but most of the gains were given up in a following correction. Traded volume is average and sentiment of the traders is neutral, but leaning towards the short side by 14%. Both sides have had their profit chances as the trend has been shifting.
I’m Jessica Walker and that’s how things look like so far, but you may track the latest developments with the hourly updates.

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