We’re halfway through this week’s first trading day so it’s time for the Dukascopy Midday Snapshot.
Euro/Dollar rose early on, but a following decline has resulted in a slight loss. Trading has been active, volume is high and neutral sentiment of the traders is just 3% long. Early hours should be successful for bulls, but the change in trend was good news for those who were short.
Pound/Dollar dropped by a total of 143 pips and slide has resulted in a loss of point 62%. The Cable sees a massive 154% more than typical funds and neutral sentiment of the traders is just 5% short. Steep slide makes a successful morning session more likely for bears.
Dollar/Yen dropped shortly after midnight, but some of the loss has been recovered in a following rise. Turnover is high and neutral sentiment of the traders is just 4% long. Changing trend has provided both sides with their profit opportunities.
Pound/Yen’s steep slide puts the pair almost 1% in the red at midday. Traded volume is low and most of the market players have been forecasting the rate to head higher. Steep slide makes losses more likely for investors, but the passive trading is what should cushion them.
Euro/Yen’s trend has changed and a loss of point 35% was posted at noon. Trading has been passive, volume is extremely low and sentiment of the traders is bearish, short positions are in the lead by 28%. Success depends on the timing of the trades, due to the changing trend.
I’m Jack Everitt and this is how market players have performed so far this Monday. We’ll be updating these stats on an hourly basis, so check back.
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