CFDs are a leveraged product and can result in losses that exceed deposits. Please ensure you fully understand how CFDs work and what their risks are, and take care to manage your exposure. CFDs are a leveraged product and can result in losses that exceed deposits. Please ensure you fully understand how CFDs work and what their risks are, and take care to manage your exposure.

EUR/USD: CoT bias rises to a majority buy 67%

ZEW figures tomorrow and the EU debate over the coronavirus fund later this week, reopening continues.

EUR/USD Technical analysis, overview, strategies, and levels

The US dollar enjoyed a boost towards the end of last week, and in turn managed to take EUR/USD's price back below its 200-week moving average for the second week running and keep its long-term bear trend channel roughly intact. As a result the breakout above the 1.14+ levels was short-lived in a real test of its daily technical bull trend overview that has been stalling heavily at these levels. And while the weekly overview has been relatively more contained, it's still open to breakout opportunities should any significant fundamental news emerge on the EUR or USD front. Plenty of US Federal Reserve (Fed) speak and testimony this week, as well as the EU debate over the coronavirus recovery fund on Thursday and Friday could result in pivot point breaks on any significant updates.

Learn more about forex and forex trading.

IG client* and CoT sentiment for EUR/USD

On the sentiment front, retail sentiment is heavy short and has risen since the start of last week, while larger speculative traders according to the latest CoT (Commitment of Traders) report have increased long positions by 10,257 lots and reduced shorts by 4,152 lots.

EUR/USD Chart with retail and institutional sentiment

*The percentage of IG client accounts with positions in this market that are currently long or short. Calculated to the nearest 1%, as of today morning 8am.

Be sure to request IG’s Weekly & Daily Market Report when you open an account with IG Dubai and get access to the full information on the FX majors, commodities, indices, and Bitcoin.


This information has been prepared by IG, a trading name of IG Limited. In addition to the disclaimer below, the material on this page does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. IG accepts no responsibility for any use that may be made of these comments and for any consequences that result. No representation or warranty is given as to the accuracy or completeness of this information. Consequently any person acting on it does so entirely at their own risk. Any research provided does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it. It has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication. Although we are not specifically constrained from dealing ahead of our recommendations we do not seek to take advantage of them before they are provided to our clients.
CFDs are a leveraged products. CFD trading may not be suitable for everyone and can result in losses that exceed your initial deposit, so please ensure that you fully understand the risks involved.

See an opportunity to trade?

Go long or short on more than 17,000 markets with IG.

Trade CFDs on our award-winning platform, with low spreads on indices, shares, commodities and more.

Live prices on most popular markets

  • Forex
  • Shares
  • Indices
liveprices.javascriptrequired
liveprices.javascriptrequired
liveprices.javascriptrequired

Prices above are subject to our website terms and agreements. Prices are indicative only. All shares prices are delayed by at least 15 mins.

Plan your trading week

Get the week’s market-moving news sent directly to your inbox every Friday. The Week Ahead gives you a full calendar of upcoming economic events, as well as commentary from our expert analysts on the key markets to watch.

For more info on how we might use your data, see our privacy notice and access policy and privacy webpage.

You might be interested in…

Find out what charges your trades could incur with our transparent fee structure.

Discover why so many clients choose us, and what makes us a world-leading provider of CFDs.

Stay on top of upcoming market-moving events with our customisable economic calendar.