EUR Futures: appears neutral/bearish near term
|According to preliminary readings for EUR futures markets from CME Group, open interest went down by just 507 contracts on Thursday, reaching the second consecutive pullback. On the other hand, volume extended the choppy trade and rose by around 73.1K contracts.
EUR/USD still eyes a test of 1.1050
EUR/USD charted a bearish ‘outside day’ on Thursday, opening the door for further downside in the near term. However, the erratic performance in both open interest and volume in the single currency could prompt some consolidative trading ahead of a probable move to lower levels. That said, the 55-day SMA in the mid-1.10s remains the immediate target.
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