Yahoo Finance Midday Forex Snapshot – November 22, 2017
Euro/Dollar has seen its trend change, walking in a total range of 38 pips. Traded volume is low and sentiment of the market players is neutral, 10% Short. Both sides have seen only limited profit chances due to the narrow price movement range and slow trading approach.
Pound/Dollar’s rate movement is flat and the pair sees less than half of the monthly average funds. A neutral sentiment of the traders is leaning towards the short side by 12%. Rate movement has been flat and trading passive so no significant moves in funds should be expected. Dollar/Yen declined by 41 pips and a loss of point 23% has been posted. Turnover is low and neutral sentiment is an even balance. Bearish rate movement puts those who were short in better positions so far. Pound/Yen has declined as well and the pair stood point 19% in the red at noon. Turnover is low and most of the traders have been forecasting the pair to head higher. The gradual decline has brought risks, but they should be minimized by the slow trading approach. Euro/Yen shows little to report on – rate movement is flat and trading passive. Most of the market players have been forecasting the pair to head higher, but the passive trading and flat rate movement make no major changes in trading accounts likely
This article was originally posted on FX Empire
