EUR Futures: near term rebound still on the cards
|Open interest in EUR futures markets shrunk by nearly 1.5K contracts on Monday, reaching the sixth consecutive pullback. In the same line, volume reversed to builds in a row and dropped by almost 83.1K contracts.
EUR/USD ready to resume the up move?
Negative price action at the beginning of the week in combination with declining open interest and volume allows for a potential reversion of Monday’s pullback in EUR/USD and a test of recent tops in the 1.1160 region. Further up is located a Fibo retracement in the 1.1180 region and the 55-day/100-day SMAs are located in the 1.1200 neighbourhood.
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