EUR futures: bullish stance remains intact

Pablo Piovano FXStreet

According to advanced data from CME Group for EUR futures markets, open interest rose by just 264 contracts on Thursday vs. Wednesday’s 431,751 contracts. On the flip side, volume contracted significantly by nearly 53K contracts.

EUR/USD closer to 1.2000

EUR/USD has practically recovered the ground lost after the hawkish message from the FOMC on Wednesday, advancing for the second session in a row so far and apparently on its way to re-test the critical 1.2000 barrier.

Activity in open interest is consistent with the ‘buy-the-dips’ view, at least in the near term. However, the sharp drop in volume might prompt some caution ahead.

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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