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: Rangebound as attention shifts to oil

Retail bias shifts to a slight majority long bias, less than that of CoT speculators.

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

Oil price took the attention yesterday, and hence the action within the FX market was largely amongst currencies with an energy underlying like that of the Canadian dollar. That meant there was relatively little movement for EUR/USD's price, and in turn it was an oscillatory Monday befitting its current short-term daily technical overview. In data, German PPI (Producer Price Index) was -0.8%, with the bloc's trade surplus surging to 25.8bn. And up next we'll get ZEW sentiment figures expected to show ongoing contraction but with numbers better than last month's. There will also be a meeting this Thursday between European Union officials to discuss the bloc's response.

Learn more about forex and forex trading.

IG client* and CoT sentiment for EUR/USD

In sentiment, retail bias was near the middle with a slight majority short 51%, and has since shifted to a slight majority long 52%.In sentiment, retail bias was near the middle with a slight majority short 51%, and has since shifted to a 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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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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