EUR/USD: Consolidatory moves befitting its overview
ZEW figures impress, tomorrow’s preliminary PMIs the next item of interest.
EUR/USD Technical analysis, overview, strategies, and levels
With the US dollar outperforming and the euro a close second, it was another day of oscillations for EUR/USD's price befitting its current consolidatory technical overview and failing to offer any action on its key pivot points. In economic data, ZEW sentiment figures surprised to the upside as the bloc attempts to ease restrictions, exiting contracting territory following its previous plummet. And while we've got low-impacting data out of the Eurozone today, it'll pick up tomorrow with preliminary manufacturing and services PMIs (Purchasing Managers Index).
IG client* and CoT sentiment for EUR/USD
In sentiment, the lack of change in price has done little to change retail sentiment, which has shifted to the middle from yesterday's slight majority long 52%.
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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