It’s noon GMT on this Wednesday and time for us to see how the sentiment of the traders compares with the actual rate movements.
Euro/Dollar has been calmer than usual, gaining just 29 pips hours into the session, but the pair sees 25% more than typical funds. Sentiment of the traders is neutral, 6% short. Bulls saw some chances during the late rise, but the narrow price movement range is the limiting factor.
Pound/Dollar rose from the low of 1 2589 and a gain of point 48% was posted at noon. The Cable has attracted an average amount of funds and neutral sentiment of the traders is 11% long. The late surge suggests a successful start of the day for those who were long.
Dollar/Yen was back near the opening level at midday after walking in a total range of just 35 pips. Turnover is low and neutral sentiment of the traders is leaning towards the short side by 14%. Both the slow trading and flat rate movement suggest no major moves in funds are likely.
Pound/Yen shot up from the daily low to trade point 54% in the green at 12 o’clock. Traded volume is high and most of the funds have been driven by bullish expectations. Trading should be successful if it was done after the daily low was reached.
Euro/Yen’s trend has shifted and only a slight gain was recorded at noon. Traded volume is high and most of the traders have been forecasting the pair to head higher. There were chances for profits after 8 o’clock, but the generally narrow price movement range is the limiting factor.