EUR/USD: Dollar outperforms in the FX market
ZEW figures disappoint out of the Eurozone, EU bans incoming foreign travel.
EUR/USD Technical analysis, overview, strategies, and levels
ZEW economic sentiment figures for Germany and the Eurozone didn't just shift into contraction, but posted their worst respective readings since 2011. Expectations aren't for economic data out of the Eurozone to improve over the coming weeks, given more lockdowns, restrictions, and reports of a halting of production from companies. As for EUR/USD's price, it reacted in line with its volatile technical overview, and with its price plummeting below both yesterday’s 1st and 2nd Support levels aiding conformist technical overview strategies. Low-impacting Eurozone data will be released today, and should markets finally settle somewhat and that may (at last) give an edge to contrarian reversals.
IG client* and CoT sentiment for EUR/USD
Retail traders aren't complaining due to the recent plummet, with yesterday's majority short 54% bias dropping to 52%.EUR/USD
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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