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.
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
Be sure to request IG’s Weekly & Daily Market Report when you open an account with IG Dubai and get access to the full information on the FX majors, commodities, indices, and Bitcoin prior to the European market open.
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.
Start trading forex today
Find opportunity on the world’s most-traded – and most-volatile – financial market
- Trade spreads from just 0.6 points on EUR/USD
- Analyse with clear, fast charts
- Speculate wherever you are with our intuitive mobile apps
See an FX opportunity?
Try a risk-free trade in your demo account, and see whether you’re onto something.
- Log in to your demo
- Try a risk-free trade
- See whether your hunch pays off
See an FX opportunity?
Don’t miss your chance – upgrade to a live account to take advantage.
- Get spreads from just 0.6 points on popular pairs
- Analyse and deal seamlessly on fast, intuitive charts
- See and react to breaking news in-platform
See an FX opportunity?
Don’t miss your chance. Log in to take your position.
Live prices on most popular markets
- Forex
- Shares
- Indices
Prices above are subject to our website terms and agreements. Prices are indicative only. All shares prices are delayed by at least 15 mins.
