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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: Only slightly besting the greenback

Eurozone data fails to impress, ECB’s Lagarde says easing measures are proportionate to risks.

EUR Source: Bloomberg

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

With both the greenback and euro underperforming in the FX market against the remaining majors, the net result was little change in EUR/USD's price. In economic data, German industrial production showed a larger than expected contraction of 17.9% with its previous revised higher to -8.9%. Sentix's investor confidence reading improved but remained in negative territory and below expectations. We'll get final GDP (Gross Domestic Product) and employment figures today, and the focus for USD traders will likely remain on tomorrow's US Federal Reserve (Fed) outcome. Out of the European Central Bank (ECB), its president Lagarde yesterday said that the central bank's aggressive easing measures "are temporary, targeted, and proportionate" to the risks the eurozone's economy faces.

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EURUSD TA Source: IG charts

IG client* and CoT sentiment for EUR/USD

The lack of change in price has done little to shift sentiment, with retail traders continuing to hold a heavy short bias.

EURUSD sentiment Source: IG charts

EUR/USD Chart with retail and institutional sentiment

EURUSD chart Source: IG charts

*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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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.

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