EUR Futures: a deeper pullback looks unlikely

Pablo Piovano FXStreet

In light of advanced data for EUR from CME Group, investors added just 59 contracts to their open interest positions on Tuesday, prolonging the erratic activity seen as of late. On the other hand, volume shrunk for the second session in a row, this time by around 24.3K contracts.

EUR/USD could still breach 1.10

EUR/USD is putting the 1.10 support under further pressure, although the choppy performance of both open interest and volume does not provide for a clear trend. That said, while a move below 1.10 remains on the cards, the case for extra consolidation in the near-term appears to be gathering momentum.

Author

Pablo Piovano

FXStreet

Born and bred in Argentina, Pablo has been carrying on with his passion for FX markets and trading since his first college years.

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