EUR/USD: Volatility persists
Monday’s gains undone in a session befitting its volatile technical overview.
EUR/USD Technical analysis, overview, strategies, and levels
The prices moves in EUR/USD remained volatile and in line with its technical overview that has been aiding conformist breakout strategies but usually for limited profit-taking on anticipation that even when pivot points hold in the mid-term, they are at least heavily broken in the short-term. With Italy still on lockdown the fundamental outlook hasn't improved, while out of the US the administration is attempting to pass economic measures to try to dent the impact of the current coronavirus storm. The data out of the Eurozone is expected to be low-impacting, and risk-taking might be limited prior to tomorrow's ECB (European Central Bank) monetary policy announcement, possibly aiding contrarian technical overview strategies over conformist breakouts.
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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