Midday Forex Snapshot – September 27, 2017

Euro/Dollar has had a bearish session, and a loss of 64 pips left it to 33% in the red at noon. This pair sees the usual amount of funding, and the sentiment is neutral, although long positions prevail by 14%. Bulls have been in much better positions so far. The Cable’s drop of 85 pips was followed by a recovery, but it still was point 16% down after 12 hours of trading.

Traded volume is close to the usual amount, and the neutral traders’ sentiment stands at 6% short. Success depends on timing as both sides had their chances during the day. Dollar/Yen has been trending higher for most of the last 12 hours, gaining a total of point 45% or 75 pips, but trading has been somewhat slower than usual. No clear sentiment has formed as long positions are up by just 4%. This has been a good day for bulls, but the slow trading will probably limit their profits. Pound/Yen started moving higher after 7 o’clock, and it stood point 3% in the green at midday. Traded volume is in line with the monthly average, and the sentiment is neutral at 8% short. The initial decline brought some opportunities for bears, but the rise was better news for bulls. And Euro/Yen’s gain of 40 pips left it to 12% in the green at noon. Traded volume is one-third down from the monthly average, and the sentiment is clearly bullish as long positions prevail by 50%. Trading should be successful albeit limited by the low volume and narrow rate movement.