Midday Forex Snapshot – September 4, 2017

The morning session is over on this Monday, so let’s see how well the market players have worked out the rate movements. Euro/Dollar has been trending slowly higher and a gain of point 24% has been posted.

Turnover is low and sentiment of the traders is neutral, 8% short. The gradual rise suggests a successful morning session is more likely for those who were long. Pound/Dollar’s gradual decline was followed by a rise, which has wiped out most of the loss. The Cable sees 19% less than typical funds and neutral sentiment of the traders is 4% long. Moves in trading accounts should be minimal due to the narrow price movement range and the slow trading. Dollar/Yen moved sharply lower, but a following rise has wiped out most of the loss. Traded volume is average and sentiment of the market players is neutral, 4% short. Bears had their chances as the pair declined by 56 pips, but the following rise was good news for bulls. Pound/Yen rose after the early decline as well and the pair sees a typical amount of funds. Most of them have been driven by bearish expectations. Trading should be successful it was done before the daily low was reached. Euro/Yen recovered all of the ground lost during the early trading hours. Turnover is low and sentiment of the traders is neutral, but long positions are up by 14%. Early hours should be successful for bears, but the change in trend was good news for bulls.