Midday Forex Snapshot – May 10, 2017

The morning session is over on this Wednesday, so let’s see how things have been shaping up for the market players.
Euro/Dollar’s daily volatility of only 39 pips was posted as the pair moved lower. The pair sees 39% less than typical funds and most of the traders have been forecasting it to head up. Gradual decline has brought risks, but both the passive trading approach and the narrow price movement range are limiting factors.
Pound/Dollar rose by 51 pips, but a pullback has wiped out all of the gains. The Cable has attracted an average amount of funds and neutral sentiment of the traders is 5% long. Both sides have had their profit opportunities as the rise was followed by a decline.

A single trend hasn’t formed for the Dollar/Yen as well and only a fractional gain was posted at 12 o’clock. Traded volume is average and sentiment of the traders is neutral, 2% short. Success depends on the timing of the trades due to the change in trend.
Pound/Yen’s trend shifted as the daily high of 148 12 was reached and the pair was back near the opening level at midday. Trading has been active, turnover is high and most of the market players have been forecasting the pair to head higher. Traders saw solid profit opportunities before the daily high was reached.
Euro/Yen moved sharply South from the high of 124 33 by a total of 83 pips. Traded volume is high and neutral sentiment of the traders is leaning towards the short side by 9%. Late decline was good news for those who had short positions.