EUR/USD: ECB minutes released today followed by its president Lagarde speech tomorrow
Range-bound movement thus far in line with its current consolidatory technical overview.
EUR/USD Technical analysis, overview, strategies, and levels
Yesterday's primary focus in terms of release was on the FOMC's (Federal Open Market Committee) minutes, whereby it disappointingly offered little guidance but highlighted increased attention to corporate debt levels, and where the net result in terms of EUR/USD's price was oscillation in line with its current consolidatory technical overview where nearly all its main technical indicators are neutral. But we're not out of the woods yet, we've got more minutes, this time around out of the ECB (European Central Bank) before its new president, Lagarde, speaks tomorrow. Surrounding her speech will be preliminary manufacturing and services PMI (Purchasing Managers Index) figures.
IG client and CoT sentiment for EUR/USD
The lack of movement has done little to change sentiment, with retail traders at a slight majority short 52%.
EUR/USD Chart with retail and institutional sentiment
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