CFDs are complex financial instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money. CFDs are complex financial instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.

EUR/USD: Relatively rangebound following a volatile financial market session

Geopolitical focus continues to drive financial market movement.

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

Geopolitical tensions remained the key theme for financial market movement, affecting risk-related assets whereby safe haven retreated and equities surged, and where in the FX market it was the US dollar and commodity currencies’ NZD and AUD that outperformed. There was little on offer in terms of data out of the Eurozone, with German factory orders contracting and France's trade deficit widening, while out of the US, ADP's Non-Farm estimate showed growth of 202K following 160K expectations, and whereby tomorrow's NFP (Non-Farm Payrolls) is expected to show 162K growth. As for today, it's mostly low-impacting items for both prior to tomorrow's closely watched NFP release.

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IG client and CoT sentiment for EUR/USD

In sentiment, retail bias was in the middle yesterday, but the price drop has enticed some longs into initiating and fresh short into closing, pushing the bias to a majority long 57% and near opposite that of the CoT’s (Commitment of Traders) larger speculative traders.

EUR/USD Chart with retail and institutional sentiment

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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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