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: USD underperforms for the week

Both retail and CoT bias remain majority long, beneficiaries of last week’s price increase.

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

Volatility started to drop, and in turn EUR/USD's price has begun testing momentum-based strategies that were relative outperformers over the past few months. Hence, while its price crossed above last week's Weekly 1st Resistance, it failed to offer much beyond it. That's not to say more fundamental moves won't be in store for this pair's price or financial markets in general, as the effects of Thursday's agreement between EU finance chiefs worth €500bn as well as the US Federal Reserve's recent announcements are yet to be felt in full.

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IG client* and CoT sentiment for EUR/USD

In sentiment, retail bias is little changed since the start of last week opting to remain in majority long territory, while the latest CoT (Commitment of Traders) report shows larger speculators increase euro long positions by 6,138 lots and short positions by 761 lots, and in percentage terms doing little to shift its current heavy long 66% bias.

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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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.

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