EUR Futures: Bearish view stays unchanged

Pablo Piovano FXStreet

Open interest rose for the second consecutive session on Friday, this time by around 1.3K contracts according to preliminary readings from CME Group. Volume, instead, shrunk by nearly 82.8K contracts.

EUR/USD risks further downside

EUR/USD’s drop to fresh YTD lows o Friday was accompanied by rising open interest, which should leave unchanged the idea of a deeper pullback to, initially, the 1.10 neighbourhood. However, the recent inconclusive trend in volume could spark some consolidation before the leg lower resumes.

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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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