Midday Forex Snapshot – October 25, 2017

Euro/Dollar has moved slowly higher by a total of just 29 pips and the pair sees only half of the monthly average funds. The sentiment of the traders is neutral, short positions are up by 3%. Profits are more likely for bulls, but both the slow trading and flat rate movement are the limiting factors. Pound/Dollar shot up after 8 o’clock and rise has resulted in a gain of point 96%.

The Cable has attracted 37% more than average funds and sentiment is neutral, long positions are up by just 5%. The steep rise suggests a successful morning session for those who had long positions. Dollar/Yen’s rise was followed by a correction, which has wiped out most of the gains. Traded volume is average and sentiment of the traders is neutral, 5% long. The rise has provided some chances for bulls, but the pullback was good news for bears. Pound/Yen moved sharply up by more than 200 pips to post gain that exceeds 1%. Turnover is high and neutral sentiment is almost at an even balance. A Late surge has provided solid profit opportunities for those who were long. Euro/Yen has gained some ground as well and the pair was point 25% in the green at midday. Traded volume is average and most of the traders have been forecasting the pair to head higher. It did go per those expectations, making profits very much likely.