Midday Forex Snapshot – November 1, 2017

Euro/Dollar has shown little action so far – volatility is just 31 pips and traded volume is low. The sentiment of the traders is neutral, at an even balance. November has started off with a slow day, so no significant profits or losses can be expected.

Pound/Dollar has been calmer than usual as well, the high and low difference is 55 pips, but the pair sees a typical amount of funds. The sentiment of the traders is neutral, 12% long. Both sides have seen only limited profit chances due to the relatively flat rate movement. Dollar/Yen has been on a rise and it has resulted in a gain of point 35%. Trading has been typical in terms of volume and neutral sentiment is leaning towards the long side by 12%. Uptrend suggests a successful morning session for the small majority of the traders that had long positions. Pound/Yen has gained some ground as well and the pair stood point 4% in the green at 12 o’clock. Traded volume is average and most of the funds have been driven by bearish expectations. The rate went in the opposite direction to those forecasts, making losses more likely. Euro/Yen rose gradually by only 40 pips and the pair stood point 23% up from the opening level at midday. Traded volume is low and most of the market players have been forecasting the pair to head South. The gradual rise has brought risks, but both the passive trading and narrow price movement range should help to limit losses.