There have been some significant rate shifts so far on this Friday, so let’s see if traders have managed to work them out.
Euro/Dollar moved South of the 1 15 level as it declined by more than 100 pips. Turnover is high and sentiment of the traders is neutral, but short positions are up by 11%. Steep slide has provided profit opportunities for the small majority of the traders that were short.
Pound/Dollar declined by more than 100 pips before rising slightly from the daily low. The Cable sees a typical amount of funds and most of the traders have been forecasting the pair to head lower. It did go per those expectations, suggesting profits for investors.
Dollar/Yen was back near the opening level at noon after walking in a total range of 53 pips. Traded volume is low and sentiment of the traders is neutral, short positions are up by 8%. Both sides have had their profit opportunities as a single trend didn’t form.
Pound/Yen dropped by a total of 149 pips, before rising from the daily low. Trading has been active, volume is extremely high and neutral sentiment of the traders is 9% short. Bears had plenty of chances during the slide, but the bounce back was good news for bulls.
Euro/yen declined sharply and the pair stood point 66% in the red at 12 o’clock. Turnover is high and most of the traders have been in short positions. The rate did go per those expectations and profits are very much likely.
I’m Jack Everitt and that’s all for Friday’s Midday Snapshot.
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