Yahoo Finance Midday Forex Snapshot – October 16, 2017
Euro/Dollar has had a slow session – volatility is 38 pips and traded volume is extremely low. The sentiment of the traders is neutral, short positions are up by 5%. Both the narrow price movement range and the passive trading are limiting factors. Pound/Dollar has also traded in a narrow range, but this pair sees a typical amount of funds. Most of them have been driven by bearish expectations.
Flat rate movement suggests no significant profits or losses are likely. Dollar/Yen has been trending South from the early high of 112 08 to trade slightly in the red at noon. Turnover is high and sentiment of the market players is neutral, short positions are up by 2%. Gradual decline puts bearish market players at an advantage. Pound/Yen declined by 67 pips, but most of the loss was recovered. This pair sees 40% less than typical funds and sentiment of the traders is bearish, 25% short. Traders saw their chances before the daily low was reached, but the passive trading is the limiting factor. Euro/Yen’s decline was followed by a slight increase, but the pair was still 0.2% in the red at 12 o’clock. Traded volume is an average and bearish sentiment of the traders is 15% short. Traders saw plenty of profit opportunities during the early trading hours.
This article was originally posted on FX Empire
