We’re halfway through this week’s first trading day, and it’s time for the Midday Snapshot. The last 12 hours have been bearish for Euro/Dollar, and a loss of 78 pips left it point 59% in the red at midday. Trading has been slower than usual, and the sentiment is neutral at 9% long. Bears have been in better positions so far. The Cable has been trending lower for much of the session, losing a total of point 79% or 112 pips. Traded volume is one fifth down from the monthly average, but most traders have anticipated the decline, as short positions prevail by 36%. Profits are very likely, although more funding would’ve increased them. Dollar/Yen’s initial gain of 46 pips was followed by a decline, but it still was point 16% up from the opening level at noon. This pair sees less than half the usual volume, and the neutral traders’ sentiment stands at 4% long. The low volume suggests any major shifts in funds are unlikely. Pound/Yen has had a bearish session, losing point 63% or 103 pips by 12 o’clock, but, once again, trading has been slow. The sentiment is neutral at 11% long. Bears actually had some great opportunities today, but losses are likely for bulls. And Euro/Yen’s loss of 75 pips left it point 43% in thee red at noon. Trading has been somewhat slower than usual, and the sentiment is pretty much the opposite of the rate movement, as it’s bullish at 46% long. Losses are likely, if not guaranteed for most traders, but the lower volume could soften the blow. I’m Jessica Walker and this was the Midday Snapshot for Monday. The latest data will be available throughout the day, so check back.
We’re halfway through this week’s first trading day, and it’s time for the Midday Snapshot.
The last 12 hours have been bearish for Euro/Dollar, and a loss of 78 pips left it point 59% in the red at midday. Trading has been slower than usual, and the sentiment is neutral at 9% long. Bears have been in better positions so far.
The Cable has been trending lower for much of the session, losing a total of point 79% or 112 pips. Traded volume is one fifth down from the monthly average, but most traders have anticipated the decline, as short positions prevail by 36%. Profits are very likely, although more funding would’ve increased them.
Dollar/Yen’s initial gain of 46 pips was followed by a decline, but it still was point 16% up from the opening level at noon. This pair sees less than half the usual volume, and the neutral traders’ sentiment stands at 4% long. The low volume suggests any major shifts in funds are unlikely.
Pound/Yen has had a bearish session, losing point 63% or 103 pips by 12 o’clock, but, once again, trading has been slow. The sentiment is neutral at 11% long. Bears actually had some great opportunities today, but losses are likely for bulls.
And Euro/Yen’s loss of 75 pips left it point 43% in thee red at noon. Trading has been somewhat slower than usual, and the sentiment is pretty much the opposite of the rate movement, as it’s bullish at 46% long. Losses are likely, if not guaranteed for most traders, but the lower volume could soften the blow.
I’m Jessica Walker and this was the Midday Snapshot for Monday. The latest data will be available throughout the day, so check back.
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