Midday Forex Snapshot – July 26, 2017

Euro/Dollar has moved back and forth in a total range of just 41 pips. Traded volume is average and neutral sentiment of the traders is leaning towards the short side by 8%. Both sides have seen some chances, but the narrow price movement range is what should limit upside potential.

Pound/Dollar’s gradual decline was followed by a rise and it puts the pair point 17% in the green. The Cable sees just 18% less than typical funds and sentiment of the traders is neutral, 2% short. Bears had some chances early on, but the following rise was good news for those who had long positions.
Dollar/Yen has been trending slowly lower to trade point 17% in the red at 12 o’clock. Traded volume is average and sentiment of the market players is 1% short. Gradual decline puts bearish market players in better positions so far.
Pound/Yen’s session has been relatively calm and the pair was back at the opening level at noon. Turnover is low and most of the traders have been forecasting the pair to head higher. Both the passive trading and the flat rate movement are limiting factors here.
Euro/Yen has moved gradually lower and decline has resulted in a loss of point 18%. Trading has been passive, volume is extremely low and neutral sentiment of the traders is 9% short. There have been plenty of profit chances for those who had short positions.