EUR futures: door open for extra weakness

Pablo Piovano FXStreet

In light of CME Group’s preliminary figures for EUR futures markets, investors added around 1.4K contracts to their open interest positions on Wednesday vs. Tuesday’s final 472,878 contracts. In the same line, volume rose by nearly 39.4K contracts, its second consecutive build.

EUR/USD now looks to 1.1450

Yesterday’s moderate pullback in EUR/USD was accompanied by rising volume and an up tick in open interest, adding to the view that the bearish sentiment is picking up pace. That said, spot could now attempt a visit to the mid-1.1400s ahead of October’s low at 1.1430.

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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