EUR/USD: CoT speculator bias unchanged
Both long and short positioning rises, keeping the percentage at a heavy long 73%.
EUR/USD Technical analysis, overview, strategies, and levels
After crossing but failing to finish above its 200-week moving average for its fourth consecutive week, the gains in EUR/USD's price were limiting as both euro and dollar were little changed against each other, Thursday's move off of the lows offering a conformist buy-on-fade opportunity but a break in its weekly pivot point failing to offer much. Of the little on offer on Friday, the ECB's (European Central Bank) Lagarde said she believed the world may be past the worst of the crisis absent a second wave, while Thursday's ECB minutes showed general agreement over asset purchase increases and division on size and timing. We've got US employment data this week which could entice contrarian breakouts over conformist reversals, as well as preliminary Eurozone CPI (Consumer Price Index) figures tomorrow.
IG client* and CoT sentiment for EUR/USD
Retail bias is still majority short, while the latest CoT (Commitment of Traders) figures show the bias is still heavy long with an increase in euro longs by 3,696 lots and shorts by 2,380 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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