Currencies Mostly Trading Sideways
January 9, 2019 12:27 pmVideo
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The morning session is over on this Wednesday, and it’s time for the Dukascopy Midday Snapshot.
Euro/Dollar shows limited rate movement of 40 pips, but the pair has attracted a typical amount of funds. Neutral sentiment of the traders is 5 percent long. Both sides have seen only limited profit opportunities due to the narrow price movement range.
Pound/Dollar spiked hours into the session, but it has been mostly trading sideways. Traded volume is extremely high and the neutral sentiment of the traders is at an even balance. The late spike has provided both sides with some limited profit opportunities.
Dollar/Yen rose during the early trading hours, but most of the session has been calm for this pair. Traded volume is typical and sentiment of the traders is neutral, 3 percent long. Bulls saw some profit chances during the early trading hours.
Pound/Yen rose by 73 pips, before giving up most of the gains. Traded volume is high and neutral sentiment of the traders is leaning towards the short side by 7 percent. Bulls had their chances during the rise, but the late correction was good news for bearish market players.
Euro/Yen rose gradually by 46 pips, but most of the gains were wiped out afterwards. This pair sees 28 percent less than typical funds and sentiment is neutral at 5 percent long. No significant profits or losses are likely due to the slow trading and narrow price movement range.
You’ve been watching the Midday Snapshot for Wednesday with me, Jack Everitt.
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