Midday Forex Snapshot – October 26, 2017

ECB has sent the Single currency sharply lower, so let’s see if it’s in line with the anticipations of market players. Euro/Dollar has moved sharply lower to trade point 43% in the red at 12 o’clock. Turnover is the average and neutral sentiment of the traders is 5% long. The pair has declined steeply, making profits more likely for those who had short positions.

Pound/Dollar’s rose slightly from the daily low after declining by more than 100 pips. The Cable has attracted an average amount of funds and most of them have been driven by bullish expectations. Steep decline has brought risks, but the bounce back provided some chances as well. A single trend hasn’t formed for the Dollar/Yen and the pair was back near the opening level at noon. Traded volume is low and sentiment of the traders is bullish, long positions are in the lead by 17%. No clear performance patterns can be identified as the trend has been shifting for this pair. Pound/Yen’s steep decline was followed by a late rise, which has helped to cushion the loss slightly. Traded volume is low and most of the traders have been bearish in their expectations. Steep decline has provided them with solid profit opportunities. Euro/Yen dropped following ECB’s announcement and slide puts the pair point 29% in the red. Traded volume is average and sentiment of the traders is strongly bearish, short positions dominate by 39%. Steep slide suggests a successful start of the day for investors.