EUR futures: door open for extra downside

Pablo Piovano FXStreet

CME Group’s preliminary figures for EUR futures markets showed investors added more than 5K contracts to their open interest positions on Thursday from Wednesday’s final 505,638 contracts. In the same line, volume increased by around 19.5K contracts.

EUR/USD eyes 1.1370/10

The sell off in EUR/USD has intensified so far this week, breaking below the critical support at 1.1500 the figure and testing fresh lows in the 1.1430 region. Rising open interest and volume coupled with declining prices is a bearish sign that opens the door for further pullbacks with immediate target in the 1.11370/10 band, where lie June’s lows.

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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