EUR futures: upside traction could lose impetus

Pablo Piovano FXStreet

In light of CME Group’s preliminary figures for EUR futures markets, open interest retreated for the second session in a row, this time by around 6.3K contracts on Monday from Friday’s final 544,529 contracts. Volume followed suit, down significantly by around 239K contracts.

EUR/USD still targets 1.1745/50

Despite EUR/USD managed to retake the 1.1700 neighbourhood, shrinking open interest and volume could play against the sustainability of the up move. However, a test of the critical resistance band at 1.1745/50 still remains on the cards.

Author

Pablo Piovano

FXStreet

Born and bred in Argentina, Pablo has been carrying on with his passion for FX markets and trading since his first college years.

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