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 majority long bias surges

USD weakness aids the pair’s price, retail bias shifts to majority short

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

EUR/USD's price enjoyed its sixth consecutive trading day of gains last Friday, sending it well past last week's Weekly (and Daily) resistance levels and more than aiding conformist technical breakout strategies in line with its current technical overview, as the US Dollar was a clear underperformer against the remaining FX majors. EU leaders were unable to agree late last week to issue joint debt, and on the central bank front the ECB (European Central Bank)'s decision to remove its limits on bond-buying sent European bonds higher, and in turn sending yields lower, as unlimited QE wasn't just being applied by the US Federal Reserve (Fed) anymore.

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IG client* and CoT sentiment for EUR/USD

The surge in its price has aided both retail traders whose bias shifted from majority long to majority short, while CoT (Commitment of Traders) bias has jumped to 63% on an increase in euro long positions by 5,227 lots and a simultaneous reduction in shorts by 23,568 lots.

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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