EUR/USD: Tested heavily ahead of ZEW sentiment figures
Pair’s price fails to shake negative technical overview.
EUR/USD Technical analysis, overview, strategies, and levels
There was little out of the Eurozone yesterday in terms of data, though that changes today with ZEW economic sentiment figures out of Germany expected to show a decline following last Friday's worse than expected preliminary GDP (Gross Domestic Product) figures that failed to show expansion as export-oriented economies get tested in the current global trade environment that hasn’t improved with the coronavirus denting Germany's biggest export market. From a technical standpoint, any upside movement will need to be significant to undo its current bearish negative overview that is showing a trending ADX (Average Directional index) on the daily as opposed to the weekly overview where a few of its main indicators are still somewhat neutral.
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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