EUR Futures: Further consolidation on the cards

Pablo Piovano FXStreet

According to advanced figures for EUR futures markets from CME Group, open interest resumed the downside and shrunk by nearly 1.6K contracts on Tuesday. On the other hand, volume increased by around 56.5K contracts following two consecutive pullbacks.

EUR/USD expected to keep the rangebound theme

Tuesday’s negative price action in EUR/USD was on the back of declining open interest and volume, opening the door for the continuation of the consolidative mood, at least in the short-term horizon. That said, further gains should need to surpass recent tops in the mid-1.1100s.

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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