CFDs are complex financial instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money. CFDs are complex financial instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.

EUR/USD: Better than expected Eurozone data fails to lift the euro significantly

But expect volatility to rise with both the Fed and ECB announcements over the next two days.

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

Economic data out of the Eurozone was light yesterday but better than expected, with Germany's trade surplus expanding and Sentix's investor confidence reading for the bloc out of negative territory for the first time since May. We'll be getting more data today in the form of ZEW sentiment figures for the Eurozone and its manufacturing powerhouse, Germany, though risk-taking overall is expected to be light ahead of the dual central bank announcements of the US Federal Reserve on Wednesday and the European Central Bank's on Thursday. Market movement for EUR/USD’s price has been relatively range-bound and in line with its current consolidatory technical overview, failing to close above its 100-day moving average yesterday.

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IG client and CoT sentiment for EUR/USD

In sentiment, retail bias has shifted again from a slight majority long 51% to a slight majority short 52% as of today morning, with further price gains required to entice longs into closing out and pushing majority short bias closer to that of institutional trader bias standing at 59%.

EUR/USD Chart with retail and institutional sentiment

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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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