Midday Snapshot

Morning session is over on this Monday so let’s see how it has been shaping up for the currency traders. I`m Sinead MacLaughlin.
Euro/Dollar rose by 58 pips and it was point 36% in the green at noon as it retreated from the daily high. Traded volume is average and the neutral sentiment of the traders is just 4% short. Bulls saw some solid chances as the uptrend formed, but the following correction was good news for bears.
Pound/Dollar declined by 47 pips after 7 o’clock and only a slight loss was recorded at noon. The Cable sees a typical amount of funds and most of the traders have been forecasting the rate to head higher. Drop means risks for traders, but there were some chances during the following rise.
Dollar/Yen moved steeply up and it was point 61% up from the opening level at midday. Turnover is 40% up from the monthly average and sentiment of the traders is strongly bearish. Rate has been moving sharply higher, making losses very much likely for investors.
Pound/Yen shot up by more than 100 pips and a gain of point 45% was posted at 12 o’clock. Trading has been active, volume is high and most of the traders have been forecasting the rate to move up. It did go per those forecasts, making a successful morning session very much likely.
Euro/Yen’s day has been bullish so far and uptrend has resulted in a gain of close to 1%. Traded volume is average and the neutral sentiment of the traders is just 7% short. Steep rise has provided plenty of profit chances for those who had long positions.
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