Hello. I`m Louise McCauley and this is the Dukascopy Midday Snapshot with a comparison between the sentiment of the traders and the actual rate movements during the morning session on this Thursday.
Euro/Dollar has been trending lower and the pair was point 46% in the red at noon. Turnover is 40% up from the pair’s monthly average and the neutral sentiment is just 5% long. Gradual downtrend makes a successful morning session more likely for those who had short positions.
Pound/Dollar’s decline has resulted in a loss of point 24% after 12 hours of trading. The Cable sees 57% more than typical funds and the neutral sentiment is 12% long. Once again, bearish market players should be having a successful morning session.
Dollar/Yen rose gradually and a gain of point 2% was recorded at midday. This pair has attracted almost double of the monthly average funds and the neutral sentiment is just 5% long. There have been plenty of chances for bulls, but losses are more likely for bearish traders.
Pound/Yen moved up early in the day, but a following decline has wiped out all of the gains. Trading has been passive, volume is extremely low and most of the traders have been forecasting the rate to move higher. Market players saw some chances early on, but the following decline has brought risks as well.
Euro/Yen rose slightly from the daily low, but it was still point 26% in the red at noon. Traded volume is extremely low and the neutral sentiment is close to a balance. A successful start of the day is more likely for bears, but changes in funds should be limited by the passive trading.
That’s it for now, but click back for the hourly updates to track the latest changes in trader performance throughout the day.
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