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: Euro outperforms despite mixed data

CoT majority long bias drops as euro short positions rise, retail bias opposite majority short.

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

The euro was an outperformer yesterday amongst the FX majors, easily besting the underperforming greenback and pushing EUR/USD's price across the last of its main short-term daily moving averages. More of its indicators are flashing green, and combined with a trending ADX (Average Directional Movement Index) on the daily that may entice contrarian strategies over conformist ones should volatility pick up. US ISM's non-manufacturing PMI (Purchasing Managers Index) was much better than expected yesterday, and out of the Eurozone retail sales surged nearly 18% while Sentix's investor confidence figure remained in negative territory failing to live up to expectations.

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IG client* and CoT sentiment for EUR/USD

In sentiment, the latest CoT (Commitment of Traders) report shows larger speculators reducing their heavy long bias from 73% to 69% on an increase in euro shorts by 9,064 lots and a simultaneous reduction in longs by 10,429 lots. Retail traders are an opposite majority short, the bias rising to 61%.

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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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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