Midday Forex Snapshot – October 19, 2017

Euro/Dollar shows little rate movement – high and low difference is 43 pips and traded volume is extremely low. A neutral sentiment of the traders is 1% short. Rate movement is relatively flat and trading has been slow, so no significant moves in funds are likely. Pound/Dollar gained some ground, but the following decline has resulted in a slight loss.

The Cable sees just half of the monthly average funds and neutral sentiment of the traders is 5% short. Early hours were in favor for bulls, but the change in trend was good news for bears. Either way, the slow trading approach suggests no major profits or losses should be expected. Dollar/Yen rose after the early decline and the pair stood only point 2% in the red at 12 o’clock. Traded volume is high and sentiment of the traders is neutral at 4% long. Changing trend has provided both of the sides with their profit opportunities. Pound/Yen has been trending lower and decline puts the pair point 41% in the red at noon. Turnover is low and most of the market players have been forecasting the pair to head higher. Gradual decline makes losses more likely, but they should be cushioned by the slow trading approach. Euro/Yen declined by a total of 52 pips and the pair sees less than half of the monthly average funds. The sentiment of the traders is neutral, 4% short. A gradual decline was good news for bears, but the calm trading approach is the limiting factor for both sides.