EUR Futures: further decline on the horizon

Pablo Piovano FXStreet

In light of advanced figures for EUR futures markets from CME Group, open interest increased by the third session in a row on Friday, this time by around 7.5K contracts. On the other hand, volume dropped by nearly 86.7K contracts, reaching the second consecutive drop.

EUR/USD seen breaking below 1.1200

The leg lower in EUR/USD could pick up extra steam in the next sessions on the back of rising open interest, with the immediate target at the 1.1200 neighbourhood. The recent uptick in volume, however, could slow the pace of the down move somewhat.

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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