EUR Futures: scope for extra gains
|In light of flash data for EUR futures markets from CME Group, investors added just 83 contracts to their open interest positions on Friday, reversing four consecutive pullbacks. In the same line, volume rose for the second session in a row, this time by around 15.7K contracts.
EUR/USD could test the Fibo retracement at 1.1186
EUR/USD charted a bullish ‘outside day’ at the end of last week, opening the door for the continuation of the squeeze higher in the near term. Rising open interest and volume should support a probable test of higher levels. Next relevant target comes in at 1.1186, Fibo retracement of the 2017-2018 rally.
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.