We have reached the midpoint of the last trading day of this week, so let`s see how market players have managed to work out the rate shifts.
Euro/Dollar has declined by 67 pips and it puts the pair point 28% in the red at 12 o’clock. Turnover is average and sentiment of the traders is neutral, but long positions are up by 14%. Gradual decline puts bearish market players in better positions so far today.
Pound/Dollar declined during the early trading hours, but the following rise has resulted in a gain of point 25%. The Cable sees 51% more than average funds and neutral sentiment of the traders is 5% short. Early hours were in favour for bears, but the shift in trend was good news for bulls.
Dollar/Yen rose sharply, giving up some of the gains only as midday approached. This pair has attracted 55% more than average funds and sentiment is neutral, almost at an even balance. Bulls have seen solid profit opportunities as the pair surged.
Pound/Yen has moved steeply North as the pair approached the 150 level. Traded volume is average and sentiment is neutral, long positions are up by 6%. Trading should be successful for those who had long positions.
Euro/Yen gained 53 pips, but a correction wiped out most of the gains. This pair sees an average amount of funds and sentiment is strongly bearish, short positions dominate by 37%. Traders have had both chances and risks, but the generally narrow price movement range is the limiting factor.
I’m Jack Everitt and that`s it for this week’s final edition of the Dukascopy Midday Snapshot.
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