EUR futures: dips appear shallow

CME Group’s advanced data for EUR futures showed open interest rose by more than 7.1K contracts on Friday vs. Thursday’s final reading at 457,944 contracts. In addition, volume followed suit, up by nearly 34.7 contracts.

EUR/USD: ‘buy the dips’ still favoured

Despite today’s ongoing correction lower in EUR/USD, the recent sharp recovery from sub-1.1700 levels to Friday’s post-Payrolls spike to the mid-1.1800s seems to be showing the sentiment prevailing in the markets among traders.

Rising prices coupled with increasing open interest and volume keep signaling that there is still room for extra upside, with the next target emerging at YTD tops just above 1.1900 the figure.

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.

Feed news