03.11.2014 – Midday Snapshot by Dukascopy
November 3, 2014 1:04 pmVideo
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It`s noon GMT on this Monday and time for us to find out how the sentiment of the traders compares with the actual rate shifts. I`m Monica Gibson bringing you this Midday Snapshot.
This day started with a 72 pip drop for the Euro/Dollar, but most of the loss was recovered in a following rise. Traded volume is average and most have been forecasting the rate to move lower, sentiment is bearish. Traders had their opportunities during the early slide, but a following uptrend has brought risks as well.
Pound/Dollar has been moving higher during most of the day and a gain of point 19% was recorded at 12 o`clock. The cable sees 40% less than average funds and the sentiment is bearish, 29% short. Uptrend has lasted during most of the morning session, making losses more likely for traders, but they should be limited by the calm trading.
Dollar/Yen surged by more than 100 pips to hit the daily high of 113 73. Trading has been active, volume is a massive 155% up from the monthly average and the sentiment is neutral, 6% long. Steep rise suggests a successful morning session is more likely for bulls.
Pound/Yen has had a bullish day so far and the pair stood point 88% in the green at midday. Turnover is 34% short of the pair’s typical and the sentiment is bullish, 21% long. The rate did go per the bullish forecasts and only the slow trading limits profits for investors.
Euro/Yen surged, just like the other two Yen pairs in this report and it was point 67% up from the opening level at noon. This pair sees just slightly more than half of the monthly average funds and the sentiment is neutral, 5% long. Profits are more likely for bulls, but moves in funds should be limited by the calm trading.
So this wraps up the Midday Snapshot for Monday. Stay tuned for the hourly updates to track the latest changes in trader performance throughout the day.
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