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 long bias rises to 68%

Significant items in store for the Eurozone this week.

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

It's a relatively significant week for Europe, with earnings, meetings, and preliminary PMIs (Purchasing Managers Index). And while the economic calendar today is light, we'll be getting ZEW economic sentiment figures tomorrow. In central bank news out of the bloc, the ECB's (European Central Bank) Villeroy said more action could be taken to fulfill price stability, following €20b worth of capital relief last Wednesday. Be on the lookout for any potential debt downgrades, especially as the difference between Italian and German yields moved higher last week. In terms of EUR/USD's price, it failed to reach either end of last week's key pivot points, with the weekly overview back to a bear trend and running in contrast with a short-term daily consolidatory overview.

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IG client* and CoT sentiment for EUR/USD

As for sentiment, retail bias starts the week with a slight majority short bias, and a 3,893 lot increase in euro long positioning combined with a simultaneous reduction in euro shorts by 3,100 lots has taken CoT (Commitment of Traders) speculator bias up to a heavy long 68%.

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.

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