Yahoo Finance Midday Forex Snapshot – October 18, 2017
Euro/Dollar was moving South during most of the session, but some of the loss has been recovered in a late rise. Traded volume is extremely low and neutral sentiment of the traders is almost at an even balance. Bears had their chances during the downtrend, but the late rise was good news for bulls.
Either way, the calm trading is what should limit any changes in trading accounts. Pound/Dollar was back near the opening level after walking in a total range of 73 pips. The Cable sees an average amount of funds and most of the traders have been in bullish positions. Traders have seen both chances and risks as the rate spiked after 8 o’clock. Dollar/Yen has been on a steep rise and it puts the pair point 55% in the green at noon. Turnover is average and sentiment of the market players is neutral, short positions are up by 6%. Trading should be successful for bulls as the rate has been moving sharply up. Pound/Yen has been on a rise as well and a gain of point 37% has been posted. The pair sees just half of the monthly average funds and sentiment is neutral, at an even balance. Profits are more likely for bulls, but the passive trading suggests no major profits or losses should be expected. Euro/Yen has been trending up and rise has resulted in a gain of point 32%. Trading has been active, the volume is a massive 115% up from the monthly average and most of the funds have been driven by bearish expectations. The rate went in the opposite direction, making losses more likely.
This article was originally posted on FX Empire
