Euro/Dollar has continued moving lower, declining by 41 pips to hit the daily low just pips above the 1 14 level. Turnover is low and sentiment of the traders is neutral, 2% short. Gradual decline has provided some chances for bears, but moves in funds should be limited by the calm trading approach. Pound/Dollar declined after 8 AM to trade point 17% in the red at noon. The Cable sees 27% more than typical funds and most of them were in long positions. Late decline has brought risks for the market players. Dollar/yen rose slowly and a slight gain was posted at midday. Traders have used just half of the monthly average funds and sentiment is neutral, 3% short. Gradual rise has provided some limited profit chances for those who were long. Pound/Yen’s rise was followed by a slide, which has wiped out all of the gain. Turnover is high and most of the traders have been forecasting the pair to head lower. Trading should be successful if it was done after the daily high was reached. Euro/Yen’s trend has changed and the pair has traded in a total range of 43 pips. Traded volume is extremely low and most of the funds were in short positions. There were some profit chances after the daily high was reached, but both the calm rate movement and passive trading approach are limiting factors.

 

This overview can be used only for informational purposes. Dukascopy SA is not responsible for any losses arising from any investment based on any recommendation, forecast or other information herein contained.

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