Midday Forex Snapshot – August 10, 2017

Jessica Walker
Forex Snapshot

Euro/Dollar has been declining throughout the session, with a total volatility of 60 pips, leaving it point 32% in the red at noon. The pair has attracted an average amount of funds and trader’s sentiment is neutral at 11% long. The downward trend would have provided more opportunities for bears.

The Cable lost 65 pips to reach the daily low of 1 2951, but has since made a recovery, standing only point 12% in the red at 12 o’clock. Traded volume is average, and the sentiment of traders is neutral at 3% short. The changing trend would have provided both sides with opportunities and risks.
Dollar/Yen has been rather calm today, volatility measures just 45 pips and the rate stands point 18% in the red at midday. The pair sees an average amount of traded volume, and the sentiment of traders is neutral at 4% short. The general downward trend suggest profits are more likely for bearish traders, however the narrow price movement would have limited success.
Pound/Yen has also seen a bearish trend today, after the daily high of 143 35 was reached the cross lost 85 pips, leaving it point 30% in the red at 12 PM GMT. Traded volume has been average, however, the sentiment of the traders is bullish at 19% long. Because of the downward trend losses are more likely for traders.
And last for this overview is Euro/Yen which has walked in a total of 97 pips, hitting the daily low at 128 59. At 12PM GMT the cross sits at point 5% in the red. Traded volume is extremely low for this pair, and the sentiment of traders is strongly bullish at 38% long. Again, because of the consistent downward trend, losses are likely for traders.

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