EUR futures: dips appear shallow

Pablo Piovano FXStreet

CME Group’s preliminary figures for EUR futures markets noted investors scaled back their open interest positions by just 653 contracts on Thursday vs. Wednesday’s final 527,628 contracts. In the same tone, volume shrunk by around 51.8K contracts, extending the choppy performance so far this week.

EUR/USD supported by 100-day SMA near 1.1480

Yesterday correction lower in EUR/USD was on the back of a small down tick in open interest and quite a moderate drop in volume, hinting at the likeliness that further downside seems limited for the time being. That said, the 100-day SMA around 1.1480 should offer initial contention.

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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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