Midday Forex Snapshot – August 16, 2017

Euro/Dollar’s daily volatility of 66 pips was posted during a decline, and the pair was point 25% in the red at noon. This pair sees the usual amount of funding, and the sentiment of traders is neutral at 4% long. Success is somewhat more likely for bears.

The Cable was back at the opening level after walking in the total range of 63 pips. Traded volume is in line with the monthly average, and the sentiment is neutral, although long positions are up by 14%. Timing has been essential as trend was shifting during the day.
Dollar/Yen has had a somewhat bullish session, and a gain of 38 pips left it point 19% in the green at noon. Trading has been slower than usual, and the neutral trader’s sentiment stands at 2% long. Bulls have been in better positions, although the low volume could limit their profits.
Pound/Yen’s gain of 86 pips was followed by a correction, but the pair still was point 19% up from the opening level at midday. Trading has been typical in terms of volume, and most traders have been bullish as long positions are up by 22%. Success was possible with good timing.
And Euro/Yen’s daily volatility reaches 79 pips, but it stood just a fraction in the red at 12 o’clock. Trading has been active, and the sentiment is bearish at 30% short. Once again, profits definitely were possible, but timing was the key.