We’re halfway through this week’s last trading day, so let’s take a closer look at the rate movements and trader performance.
Euro/Dollar started moving higher after 4 o’clock, and a gain of 42 pips left it point 28% in the green at noon. Traded volume is in line with the monthly average, and the neutral trader’s sentiment stands at 13% short. Bulls have been in better positions so far.
The Cable was point 12% up from the opening level after walking in the total range of 66 pips. Traded volume is a quarter down from the monthly average, and the sentiment is bullish as long positions are up by 25%. Success is likely, although much depends on timing.
Dollar/Yen saw quite a move after 3 AM this morning, first moving up and then plunging by 295 pips. The total loss reached 1.43% at midday. This pair sees the usual amount of funding, and traders sentiment is neutral at 3% short. Bears have had a great opportunity for profit, provided they opened their positions before the drop.
Pound/Yen shows a similar, but more pronounced pattern, as a drop of no less than 390 pips left it 1.3% at red after 12 hours of trading. Volume is low, however, and the sentiment is neutral at 13% long. Once again, this has been quite a day for the Yen bulls.
And things look quite similar for the Euro/Yen, as it plummeted by 308 pips and was 1.14% down from the opening level at midday. Trading has been active, but the sentiment is neutral at 7% short. So going short on this pair has been the winning bet, although it has recovered some ground.
I’m Kiays Khalil and this was the Midday Snapshot for Friday. Stay tuned for the hourly updates.
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