Midday Forex Snapshot – November 21, 2017

Euro/Dollar shows little rate movement, high and low difference is just 44 pips, but the pair sees a typical amount of funds. The sentiment of the traders is bearish, most have been forecasting the pair to head lower. The flat rate movement suggests no significant profits or losses are likely.

Pound/Dollar declined by 59 pips, but the following rise wiped out most of the loss. The Cable has attracted 21% less than typical funds and most of them have been driven by bearish expectations. Traders saw their profit opportunities as the pair declined from the daily high. Dollar/Yen’s day has been relatively slow – high and low difference is 31 pips and traded volume is low. Neutral sentiment is just 3% short. Both the calm trading and narrow price movement range are limiting factors. Pound/Yen declined after 8 AM and a slight loss was posted at noon. Traded volume is average and neutral sentiment is leaning towards the long side by 12%. Bears saw their opportunities as the pair declined by 75 pips from the daily high. Euro/Yen’s decline measures at a total of 59 pips, but most of the loss has been wiped out. Turnover is high and neutral sentiment is almost at an even balance. Both sides have had their chances as the decline was followed by a rise.