Yahoo Finance Midday Forex Snapshot – October 17, 2017
Euro/Dollar has been trending slowly South and the pair has attracted just slightly more than half of the monthly average funds. The sentiment of the traders is neutral, 4% short. Bears have been in better positions, but both the passive trading and narrow price movement range suggest no major moves in funds are likely.
The Cable dropped by more than 100 pips after 8 AM and slide puts the pair a half a percent in the red. The Cable sees 29% more than typical funds and neutral sentiment of the market players is 6% short. Late slide suggests a successful morning session for those who had short positions. Dollar/Yen has traded in a total range of only 27 pips, but the pair has attracted an average amount of funds. Sentiment is neutral, both sides are at an even balance. There have been only limited profit opportunities due to the slow rate movement. Pound/Yen took a slide hours into the session and it puts the pair point 51% in the red. Trading has been active and neutral sentiment is 7% long. Late slide has provided solid profit opportunities for those who were short. Euro/Yen has declined by a total of 54 pips and the pair stood point 27% South of the opening level at 12 o’clock. Trading has been passive, the volume is extremely low and most of the market players have been forecasting the pair to head higher. A decline has brought risks, but the passive trading should help to cushion any losses.
This article was originally posted on FX Empire
