Midday Forex Snapshot – October 19, 2017

Euro/Dollar hit the low of 1 1768 shortly after 8 AM, but the following rise puts the pair point 34% in the green. Turnover is low and sentiment of the traders is neutral, short positions are up by 2%. Decline provided bears with their chances, but the following rise was good news for bulls. Pound/Dollar moved South by 100 pips, but some of the loss was recovered after the daily low was hit.

The Cable sees a typical amount of funds and neutral sentiment is just 3% short. Trading should be successful for bears if it was done before the daily low was reached. Dollar/Yen has declined sharply and the pair was point 46% in the red at 12 o’clock. Turnover is a high and neutral sentiment of the market players is just 1% long. The drop has provided bears with solid profit opportunities. Pound/Yen has moved steeply South and a loss of point 72% has been posted. Traded volume is average and sentiment is neutral, short positions are up by just 5%. Slide puts bearish market players in better positions here as well. Euro/Yen’s decline was followed by a rise, which has wiped out most of the loss. Traders have used 30% more than typical funds trading this pair and sentiment of the traders is neutral, 6% short. Both sides have had their chances as the rate rose after hitting the daily low.