Midday Forex Snapshot – May 8, 2017

It’s a new trading week and time for us to see how traders have managed to work out the rate shifts during the morning session.
Euro/Dollar has seen its trend change and the pair was point 24% in the red at noon. Turnover is high and sentiment of the traders is neutral, 3% long. Both sides have had their profit opportunities as the trend shifted.
Pound/Dollar’s day has been slow – high and low difference is just 43 pips and traded volume is low. Sentiment of the market players is neutral, short positions are up by 13%. Both the flat rate movement and the narrow price movement range suggest no major moves in funds are likely.

Dollar/Yen declined by a total of 48 pips, but a late rise has wiped out most of the loss. Turnover is average and neutral sentiment of the traders is 3% short. Bears had plenty of profit chances during the gradual decline, but the following rise provided some opportunities for bulls as well.
Pound/Yen was point 21% in the red at 12 o’clock after walking in a total range of 70 pips. Traded volume is average and most of the funds have been driven by bullish expectations. Success depends on the timing of the trades as a single trend hasn’t formed.
Euro/Yen’s biggest move has been a decline of slightly more than 100 pips and the pair was point 29% in the red at noon. This pair sees a typical amount of funds and most of the traders have been forecasting the pair to move lower. Traders had their profit opportunities as the pair moved sharply lower.