EUR Futures: recovery has further legs
|Open interest in EUR futures markets rose for yet another session on Wednesday, this time by around 4.6K contracts according to preliminary figures from CME Group. Volume, in the same line, reversed two consecutive drops and rose by a nearly 91.5K contracts.
EUR/USD now targets the 200-day SMA beyond 1.1300
The strong rebound in EUR/USD on the back of USD-selling was on the back of rising open interest and volume, opening the door for the continuation of the squeeze higher in the near term. That said, the critical 200-day SMA at 1.1325 has now returned to the radar.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.