The price has bounced up towards our profit target previously. Now we remain bullish above 119.45 support (Fibonacci retracement, horizontal pullback support, and recent swing…
First half of this week’s last trading day is over and it’s time for us to see how market players have managed to work out the rate movements.
Euro/Dollar has been calmer than usual, declining by a total of 40 pips and the pair sees slightly less than half of the monthly average funds. Sentiment of the traders is neutral, long positions are in the lead by 7%. Profits are more likely for bears, but both the slow trading and narrow price movement range are limiting factors.
Pound/Dollar moved sharply South and decline has resulted in a loss of point 56%. The Cable sees 42% less than typical funds and most of the traders have been forecasting the pair to head higher. Decline has brought risks for investors, but losses should be cushioned by the passive trading.
Dollar/Yen moved steeply lower and the pair was point 38% South of the opening level at 12 o’clock. Traded volume is average and neutral sentiment of the traders is 5% short. Steep decline suggests a successful start of the day for those who had short positions.
Pound/Yen has dropped by 233 pips and the pair was almost 1% in the red at midday. Turnover is low and sentiment of the traders is neutral, but short positions are in the lead by 11%. Steep slide has provided plenty of profit chances for those who were short.
Euro/Yen has declined by a total of 114 pips and a loss of point 6% was posted at noon. Traded volume is low and most of the funds have been driven by bearish expectations. The rate did go per those forecasts and only the passive trading limits upside potential.
I’m Jessica Walker and that’s it for Friday’s Midday Snapshot. Check back for the hourly updates to track the latest changes in trader performance throughout the day.
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