Midday Forex Snapshot – September 19, 2017
The morning session is over on this Tuesday, and it’s time for the Midday Snapshot. Euro/Dollar’s initial rise was followed by a drop of 53 pips, but the pair still was point 11% in the green at noon. Trading has been usual in terms of funding, and both sides are at a balance. Success depends on timing as both sides had their chances during the day.
The Cable’s daily volatility of 84 pips was posted during a decline, and the pair was point 15% in the red at midday. Traders have been very active, and the neutral trader’s sentiment stands at 1% long. Bears have been in better positions, although bulls did have some chances. Dollar/Yen was back at the opening level after walking in the total range of 51 pips. This pair sees 22% more funding than usual, and the sentiment is neutral at 6% long. The first half of the session was more favourable for bulls, and bears had their opportunities during the second half. Pound/Yen dropped by 127 pips after 5 AM, and the total loss reached point 13% after 12 hours of trading. This pair sees more than twice its usual amount of funding, although the sentiment again is neutral at 4% long. The high volume suggests some major shifts in funds, and success is more likely for bears. And Euro/Yen’s early rise of 91 pips was followed by a correction, but it still was point 12% in the green at midday. Trading has been active, and bullish positions are up by a third. Success is likely if positions were not opened after 7 o’clock.
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