EUR Futures: Downside remains well in place

Pablo Piovano FXStreet

Open interest in EUR futures markets rose for the third consecutive session on Thursday, this time by nearly 4.4K contracts according to preliminary data from CME Group. Volume, too, extended the uptrend and increased by around 5.2K contracts.

EUR/USD now targets 1.0814

EUR/USD prolonged the leg lower for yet another day on Thursday, moving further into the negative territory after the recent breakout of the 1.09 support. Rising open interest and volume amidst negative price action now open the door to a potential test of the Fibo retracement at 1.0814 in the near-term.

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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