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/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.
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.
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.
