EUR Futures: room for extra upside near term
|Open interest in EUR futures markets rose for the third day in a row on Tuesday, this time by nearly 12.5K contracts, the largest daily build since September 10 according to preliminary figures from CME Group. In the same line, volume reversed two consecutive drops and increased by almost 51.7K contracts.
EUR/USD now targets the 100-day SMA
Tuesday’s rebound in EUR/USD was accompanied by rising open interest and volume, opening the door for the continuation of the bounce to, initially, the 100-day SMA at 1.1124. The bullish view should be reasserted on a convincing breakout of monthly tops beyond 1.1180.
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.