Midday Forex Snapshot – May 18, 2017

Euro/Dollar has been trending South by a total of 64 pips to trade point 3% in the red at noon. Traded volume is average and neutral sentiment of the traders is 4% long. Gradual downtrend suggests a successful morning session for those who were short.

Pound/Dollar has shot up by more than 100 pips and a gain of point 41% was posted at midday. The Cable sees 40% more than typical funds and most of them have been driven by bullish expectations. The rate did go North, so profits are very much likely.
Dollar/Yen declined by 118 pips, but a following rise has wiped out some of the loss. This instrument has attracted more than double the monthly average funds and neutral sentiment of the traders is 2% long. Bears saw solid profit opportunities as the pair fell by more than 100 pips.
A single trend hasn’t formed for the Pound/Yen and only a slight gain was posted t noon. Turnover is extremely high and neutral sentiment of the traders is 5% long. Both sides have had their chances as rise was followed by a decline.
Euro/Yen took a slide and the pair was point 55% South of the opening level at 12 o’clock. Traded volume is average and sentiment of the traders is neutral, 4% short. Trading should be successful for the small majority of the traders that had short positions.