EUR Futures: a deeper correction is not ruled out


According to preliminary data for EUR futures markets from CME Group, open interest shrunk by nearly 4.2K contracts on Friday, reaching the second drop in a row. In the same line, volume reversed three consecutive builds and dropped by almost 556K contracts, the biggest single day drop so far this year.

EUR/USD upside faltered above 1.1100

EUR/USD’s positive price action on Friday was accompanied by declining both open interest and volume. In fact, the pair failed to advance further north of the key resistance line just above 1.11 the figure, sparking a move to the current 1.1070 region. That said, the inability to resume the upside in the near term could encourage sellers to return to the markets on a more sustainable fashion, putting the 1.0925 level back on 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.

Feed news

Latest Forex News

Editors’ Picks

EUR/USD: trade war optimism skews the risk to the upside

The EUR/USD pair has rallied to 1.1062 on Friday, its highest since September 20, as risk-on prevailed heading into the weekend. Reports on progress in trade talks between the US and China.

EUR/USD News

GBP/USD's rally stalls in the open as weekend headlines highlight Brexit deadlock

GBP/USD is a touch softer in the open on Monday, starting off the week in the consolidation of Friday's upside extension to the highest levels since mid-summer. 

GBP/USD News

USD/JPY consolidating bull rally into 108 handle on US/Sino trade deal optimism

USD/JPY starts out the week flat to Friday's close after markets rallied at the end of the week. Bullish geopolitical undertones in the form of a U/Sino 'phase 1' trade deal help lift USD/JPY onto the 108 handle.

USD/JPY News

Gold slumps below $1,480 as risk appetite continues to dominate the market

The bearish pressure surrounding the XAU/USD pair on Friday intensified in the last hour as markets continue to price a possible trade deal between the United States (US) and China.

Gold News

US China trade deal propels US markets and yields higher and leaves dollar mixed

The US and China reached a limited trade deal on Friday a first step on the path to what both sides said could be a more comprehensive pact later in the year. President Trump said the countries reached a “very substantial phase one deal”.

Read more

Forex MAJORS

Cryptocurrencies

Signatures