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CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading CFDs with this provider. 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 instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.

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Technical cheat sheet: how to trade the euro against a cautious USD

Revisiting EUR/USD, in our latest TCS, as prices hover near February's levels with unchanged outlooks and mixed signals. Recent sentiment shifts among traders and speculators highlight the trading intrigue

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Forex Euro EUR/USD United States dollar Currency pair European Central Bank
Written by: Monte Safieddine | Market Analyst, Dubai
Publication date:

In this week’s Technical cheat sheet, we’re diving into the EUR/USD currency pair, which has seen only a slight price fluctuation from 107.80 to 107.60 since mid-February. It appears the market is taking a breather, and we’re noting an environment of cautious consolidation.

Market sentiment & positioning

Current sentiment among retail IG clients shows a mixed reaction, with a significant shift from a predominantly bullish stance to a more balanced or even bearish outlook as per recent Commitments of Traders (CoT) data. This shift from a majority buying to a majority short position could point to changing perceptions and a more guarded approach among traders.

Technical perspective

From a technical standpoint, both weekly and daily analyses suggest a tilted yet neutral stance. The pair has been caught in relatively tight trading ranges, making it crucial to watch for any breakouts or breakdowns that could signal a new direction. Yet, the potential for short-lived signals means that vigilance is vital. Even the smallest cues in price movement or changes in volume could be the precursor to more significant shifts.

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CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money. Clients can lose more than they deposit. All trading involves risk.

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