Slow Day for Most of the Majors [Video]

Euro/Dollar declined by44 pips before rising from the daily low. Traded volume is low and neutral sentiment of the traders is leaning towards the short side by 7%. Traders have seen only limited profit opportunities due to the calm trading approach and narrow price movement range. Pound/Dollar spiked hours into the trading day, which has otherwise been extremely calm. The Cable sees just half of the monthly average funds and most of them were in long positions. The late spike has brought some chances and risks in this otherwise slow day. Dollar/Yen rose slowly by a total of 21 pips and the pair sees just half of the usual funds. Most of the traders have been forecasting the pair to head higher. It did go per those expectations, but upside potential is limited by the passive trading approach and slow rate movement. Pound/Yen spiked after 8 AM and a slight loss was recorded at midday. Trading has been active, volume is high and bullish sentiment of the traders is 21% long. Traders had their profit opportunities during the sharp rise. Risks were there as well after the daily high was reached. Rate movement is flat for the Euro/Yen and the pair sees less than half of the usual funds. Neutral sentiment of the traders is leaning towards the short side by 4%. Both the slow trading and flat rate movement suggest no significant moves in funds.

 

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.