EUR futures: U-turn on the cards?
|According to CME Group’s preliminary figures for EUR futures markets, open interest dropped by almost 5.4K contracts on Thursday from Wednesday’s 499,107 contracts. Volume followed suit, down by more than 87K contracts.
EUR/USD now looks to 1.1508
EUR/USD keeps the bearish tone intact so far this week. Yesterday’s down tick in spot has been in tandem with shrinking open interest and volume, hinting at the likelihood that a potential U-turn in prices lies ahead in the near term horizon. In the meantime, the pair has now shifted its view to the area of 2018 lows in the 1.1500 neighbourhood.
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.