EUR Futures: Downside losing traction?

Pablo Piovano FXStreet

Open interest in EUR futures markets went down by just 110 contracts on Thursday, reaching the second drop in a row according to flash readings from CME Group. Volume followed suit and shrunk by around 47.5K contracts, prolonging the erratic performance.

EUR/USD faces the next support at 1.0814

EUR/USD extended the downside on Wednesday amidst declining open interest and volume, hinting at the likeliness that the idea of a deeper pullback could be running out of steam. That said, the next key support emerges at the Fibo retracement at 1.0814 ahead of the February’s low at 1.0777.

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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