Midday Forex Snapshot – May 17, 2017

Euro/Dollar’s day has been calmer than usual – high and low difference is 41 pips, but the pair sees 34% more than typical funds. Sentiment of the traders is neutral, 2% long. Both sides have had their chances, but the narrow price movement range suggests no major moves in funds are likely.

Pound/Dollar rose by 72 pips after 7 o’clock and rise puts the pair point 36% in the green. The Cable has attracted more than double the monthly average funds and most of them have been driven by bullish expectations. Late rise suggests a successful morning session for investors.
Dollar/Yen has been trending lower and decline has resulted in a loss of point 3%. Turnover is high and neutral sentiment of the traders is 4% short. Gradual decline makes profits more likely for those who had short positions.
Pound/Yen’s decline was followed by a rise and the pair stood a fraction in the green at 12 o’clock. Traded volume is high and sentiment of the market players is neutral, close to a balance. Bears had their chances early on, but the following rise was good news for bulls.
Euro/Yen has had a relatively slow day – high and low difference is 59 pips and traded volume is low. Most of the traders have been forecasting the pair to head higher. No major moves in funds are likely due to the calm rate movement and passive trading.