EUR/USD: Technicals get tested on slight pullback
ECB minutes out of the Eurozone, plenty of data out of the US.
EUR/USD Technical analysis, overview, strategies, and levels
The US dollar outperformed yesterday in the FX market, though the euro wasn't that far off managing to best plenty of other FX majors. The net result for EUR/USD's price was a move lower to settle slightly below yesterday's 1st Support level in a test of recent positive technical bias. A report that the US was considering new tariffs on EU imports didn't help, and of the little on offer out of the Eurozone in terms of economic data showed Germany's IFO figures mostly better than expected. We'll be getting GfK's consumer climate figure for the bloc's manufacturing powerhouse today as well as the ECB's (European Central Bank) minutes, and we're in for a string of US data later today including durables, GDP (Gross Domestic Product), and the usual closely watched unemployment claims, before attention shifts to the US consumer with the BEA's (Bureau of Economic Analysis) income, spending and pricing figures on Friday.
IG client* and CoT sentiment for 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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