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: Another day of gains, services PMIs next

Retail short bias drops, technicals remain bullish ahead of key fundamental events.

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

A sixth consecutive day of gains for the euro which although didn't outperform against commodity and risk-related currencies, managed to best the greenback. That took EUR/USD's price above yesterday's 1st Resistance level which eventually broke to aid conformist breakout strategies and keep its bull trend technical overview intact on the daily. And while we get a string of services PMIs (Purchasing Managers Index) out of the Eurozone and the US today, big fundamental items are in store for this pair with the much-awaited ECB (European Central Bank) tomorrow, and NFP (Non-Farm Payrolls) out of the US the day after. ADP's non-farm estimate will be released later today, expected to show a 9m drop.

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IG client* and CoT sentiment for EUR/USD

Retail bias while still majority short has dropped from recent heavy short territory, standing at 61% as of this morning.

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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