Find out if traders have managed to work out the rate movements during the morning session by watching the Dukascopy Midday Snapshot. Euro/Dollar was moving gradually lower, but a following surge took it back above the opening level. Traded volume is average and the neutral sentiment of the traders is just 9% short. Early hours were in favor for those who had short positions, but the following surge was good news for bulls. Pound/Dollar rose by slightly more than 100 pips, but a late correction wiped out some of the gains. The Cable has attracted more than double the monthly average funds and the sentiment of the traders is neutral, 2% short. Steep rise has provided solid chances for bulls, but the late pull back provided some opportunities for bears. Dollar/Yen has been heading up and the pair stood point 27% up from the opening level at midday. Turnover is 75% up from the monthly average and sentiment of the traders is neutral, close to a balance. Uptrend makes a successful morning session more likely for bulls. Pound/Yen climbed up by close to 200 pips and the pair was point 71% in the green at 12 o’clock. Trading has been slower than usual, volume is low and sentiment of the traders is neutral, 10% long. Bulls have been in better positions, but the calm trading is the limiting factor. Euro/Yen’s decline was followed by a surge and it has resulted in a gain of point 4%. This pair sees 23% less than typical funds and most of the traders have been forecasting the rate to head lower. Traders had their chances during the downtrend, but risks were there in a form of following surge as well. I’m Sam Meredith and this wraps up the Midday Snapshot for Thursday. Click back for the hourly updates to track the latest changes in trader performance trends.
