Midday Forex Snapshot – October 30, 2017

Euro/Dollar has been moving slowly up to trade point 23% in the green at noon. Turnover is average and most of the traders have had short positions. The rate went in the opposite direction to those forecasts, making losses more likely for investors. Pound/Dollar shot up by 67 pips after 7 AM and a gain of point 4% has been posted.

The Cable sees less than half of the monthly average funds and sentiment of the market players is neutral, 4% long. Late jump puts bulls in better positions, but trading has been passive, so shifts in funds shouldn’t be significant. Dollar/Yen was only slightly South of the opening level at midday after walking in a total range of just 31 pips. Traded volume is average and sentiment is neutral, but short positions are up by 14%. The rate has walked in a relatively narrow range, making any significant moves in funds less likely. Pound/Yen moved up towards the 150 level to trade point 34% in the green at 12 o’clock. Traded volume is extremely low and most of the funds have been driven by bullish expectations. The rate did go per those expectations and a more active approach would have increased profits. Euro/yen has moved just gradually up to standpoint 17% up from the opening level at noon. Traded volume is average and sentiment is neutral, long positions are in the lead by 5%. The slow uptrend makes profits more likely for those who had long positions.