Midday Forex Snapshot – July 18, 2017
It’s noon GMT on this Tuesday so let’s have a look at the performance of the market players.
Euro/Dollar has broken through the key 1 15 level to trade point 67% in the green at noon. Turnover is high and sentiment of the market players is neutral, long positions are up by 9%. A couple of sharp rises suggest a successful morning session for bullish traders.
Pound/Dollar dropped by 120 pips after the high of 1 3126 was reached and a loss of point 33% was posted at midday. The Cable sees more than double the monthly average funds and most of them have been driven by bearish expectations. Trading should be successful if it was done after the daily high was reached.
Dollar/Yen’s day has been bearish and decline puts the pair point 45% in the red. Turnover is average and neutral sentiment of the traders is almost at an even balance. Steep decline has provided plenty of profit chances for those who had short positions.
Pound/Yen has plummeted by 160 pips and a loss of point 79% was recorded at 12 o’clock. Traded volume is average and sentiment of the traders is bearish, 18% short. Late decline has provided solid profit opportunities for investors.
Euro/Yen retreated from the daily high, but the pair was still point 21% in the green at midday. Trading has been active, volume is high and sentiment of the traders is neutral, but leaning towards the short side by 13%. Bulls have been in better positions, but pull backs provided bears with some chances as well.
This article was originally posted on FX Empire