Midday Forex Snapshot – July 13, 2017

The morning session is over on this Thursday, so let’s see how things are shaping up for the market players.
Euro/Dollar stood just a fraction in the red after walking in the total range of 85 pips. This pair sees the usual amount of funding, and the neutral trader’s sentiment stands almost at a balance. Success depends on timing as the rate has seen its ups and downs.

The Cable’s initial rise of 63 pips was followed by a correction, but the pair still was point 36% up from the opening level at 12 o’clock. Trading has been slow, and the sentiment is bullish as long positions are up by 18%. Success is likely, but it will be limited by the low volume.
Dollar/Yen saw limited movement after losing 67 pips early in the session, and it stood point 15% in the red at midday. Traded volume is in line with the monthly average, and sentiment is neutral at 3% long. Bears have been in somewhat better positions so far.
Pound/Yen has been moving in waves, but it was point 21% in the green at noon. Traded volume is close to this pair’s usual amount, and trader’s sentiment again is neutral at 5% long. Timing has been key to success as the trend was shifting throughout the day.
And Euro/Yen did recover some ground after declining by 116 pips, but the total loss still reached point 21% at midday. Trading has been active, and most traders indeed had anticipated a decline, as short positions prevail by 31%. This suggests it has been a successful day for most traders.