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Midday Forex Snapshot – August 17, 2017

By:
Jessica Walker
Published: Aug 17, 2017, 13:11 UTC

Euro/Dollar has had a bearish session, and a loss of 128 pips left it point 63% in the red at noon. Traded volume is exactly in line with the monthly

Forex Snapshot

Euro/Dollar has had a bearish session, and a loss of 128 pips left it point 63% in the red at noon. Traded volume is exactly in line with the monthly average, and the neutral trader’s sentiment stands at 4% short. Bearish bets should be successful, but bulls will face losses.

The Cable’s daily volatility of 56 pips was posted during a decline, and the pair stood point 19% down from the opening level at midday. Trading has been somewhat slower than usual, and the sentiment of traders is neutral at 11% short. Success is likely for the small majority of traders with short positions.
Dollar/Yen started moving higher after 2 AM, gaining a total of 71 pips, but a correction left it point 15% in the green after 12 hours of trading. Trading has been very active indeed, and the sentiment is neutral at 9% short. All in all, bulls have been in better positions so far.
Pound/Yen was back near the opening level after walking in the total range of 55 pips. Traded volume is one third down from the monthly average, and the neutral trader’s sentiment stands at 12% short. Success really depends on timing, but it probably will be limited by the slow trading.
And Euro/Yen has been trending lower for most of the session, losing a very even total of one hundred pips. The total loss reached almost half a percent at midday. Trading has been much slower than usual, which is good, as most traders had anticipated a rise. Losses are very likely, but the low volume should soften the blow.

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