EUR/USD: Most of the big banks seem to be bearish

Of course it depends on which analyst you listen to with banks often giving out two conflicting views, but its the market analysts I tend to listen to. These usually study flows and positioning amongst their clients and apart from Deutsche, who still seem to be overall bullish (and are after all the biggest), the others seem to be generally bearish on EUR/USD.

In my experience, if its 8 against 1, the 1 tends to be right more often than not! I can’t explain why but it does seem to work out that way.

The German ZEW survey is out this morning in Frankfurt and that might get the EUR finally moving away from the 1.3350 pivot.