Midday Forex Snapshot – September 26, 2017

The morning session is over on this Tuesday, and it’s time for the Midday Snapshot. Euro/Dollar started moving lower after 4 o’clock, and it stood point 56% in the red at midday. Traded volume is in line with the monthly average, and the neutral traders’ sentiment stands at 10% long.

Bears have been in much better positions so far. The Cable dropped by 103 pips after 7 o’clock, and the total loss reached point 42% at noon. This pair sees one-third less funding than usual, but most traders had anticipated a rise, as long positions prevail by 18%. So traders faced losses, but the low volume should cushion the blow. Dollar/Yen, on the other hand, has had a bullish session, and it was point 19% up from the opening level at noon. Trading has been much slower than usual, and the neutral traders’ sentiment stands at 7% long. The uptrend was good news for bulls, but bears did face losses. Pound/Yen’s daily high and low difference reaches 94 pips, and the pair was point 24% in the red at noon. Trading has been typical in terms of volume, and the sentiment is neutral at 11% long. The overall trend puts bears in better positions. And Euro/Yen has been trending lower for most of the session, losing point 37% or 75 pips. Trading has been active, but most traders had anticipated a rise, as long positions prevail by no less than 47%. This means that losses are very likely, and the high volume will only make them worse.