The morning session is over on this Wednesday, so let’s see how things have been shaping up for the market players.
Euro/Dollar stood point 1% in the green after walking in the total range of 55 pips. Traded volume is in line with the monthly average, and the neutral trader’s sentiment stands at 8% long. Success depends on timing, although it will be limited by the narrow rate movement.
The Cable, for once, has had a bullish session, and a gain of 168 pips left it point 6% in the green at noon. Traded volume is a quarter down from this pair’s usual amount, and the sentiment is neutral at 6% short. Those who were brave enough to have long positions did have good opportunities for profit.
Dollar/Yen’s daily volatility of 57 pips was posted during a rise, which brought it back near the opening level at 12 o’clock. This pair sees 31% less funding than usual, and the sentiment is strongly bullish as long positions are up by 46%. Trading should be successful if it was done in the second half of the session.
Pound/Yen started moving higher after 6 o’clock, gaining no less than 228 pips, and it was point 63% up from the opening level at noon. Trading has been active, and the sentiment neutral at just 2% long. Bulls have had plenty of chances, although losses are more likely for bears.
And Euro/Yen also went up in the second half of the session, as a gain of 106 pips left it point 12% in the green at midday. Trading, however, has been slow at less than half of the usual amount, and the sentiment is neutral at 10% short. The slow trading should limit any shifts in funds.
I’m Lucy Palfreeman and you’ve been watching the Midday Snapshot for Wednesday. Stay tuned for the hourly updates.
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