Midday Forex Snapshot – August 4, 2017
Euro/Dollar has hovered above the 1 18 level, walking in a total range of 28 pips. Turnover is low and neutral sentiment of the traders is 2% short. Trading has been passive and rate movement flat, so both profits and losses shouldn’t be significant.
Pound/Dollar’s calm session was followed by a steep decline, which puts the pair point 64% in the red. The Cable sees 55% more than typical funds and sentiment of the market players is neutral, 7% short. Late slide was good news for those who had short positions.
Dollar/Yen has moved South as well and a loss of point 35% has been posted. Traded volume is average and sentiment of the traders is neutral, long positions are up by 4%. Decline has provided profit opportunities for bearish market players.
Pound/Yen plummeted hours into the session and the pair stood point 98% in the red at midday. Trading has been active, volume is high and sentiment of the traders is neutral, but short positions are up by 12%. Late drop was good news for the small majority of the traders.
Euro/Yen has been trending lower and decline has resulted in a loss of point 33%. Trading has been passive here, volume is extremely low and sentiment of the traders is bearish at 17% short. Traders saw solid profit chances, but the calm trading is the limiting factor.
This article was originally posted on FX Empire
