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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: CoT bias unchanged in majority short territory

Latest figures show a lack of change as both long and short positioning rises, retail bias moves closer towards the middle.

EUR Source: Bloomberg

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

Yesterday's services PMI (Purchasing Managers Index) figures were slightly better than expected for the Eurozone, and posting above 50 and hence expanding figures, running in significant contrast with the contracting manufacturing sector. Sentix's investor confidence showed a better than expected figure of 7.6. Up next, we'll get preliminary CPI (Consumer Price Index) figures expected to show growth of 1.3% both overall and at its core, though should the recent spike in energy prices persist and it'll translate into a higher figure down the line (but not at its core which excludes energy and food). Out of the US, we'll get trade data and its ISM estimate with regards to its services sector following Markit's slight expansion yesterday. EUR/USD movement has remained relatively rangebound but showing positive technical bias.

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EURUSD TA Source: IG charts
EURUSD TA Source: IG charts

IG client and CoT sentiment for EUR/USD

In sentiment, the latest CoT (Commitment of Traders) report shows the bias unchanged in percentage terms with euro longs up by 8,589 lots and shorts up by 9,991 lots.

EURUSD sentiment Source: IG charts
EURUSD sentiment Source: IG charts

EUR/USD Chart with retail and institutional sentiment

EURUSD chart Source: IG charts
EURUSD chart Source: IG charts

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