According to flash data for EUR futures markets from CME Group, open interest extended its uptrend on Friday, this time rising by around 2.2K contracts. In the same direction, volume rose for the second session in a row, now by nearly 28.3K contracts.
EUR/USD could attempt a test of 1.11 and above
EUR/USD’s recently failed in the mid-1.10s, where sits the key 55-day SMA. Rising open interest and volume looks supportive of the continuation of the up move to, initially, another test of this area of resistance and probably a move to the 1.11 neighbourhood.
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.