EUR Futures: Further losses seem unlikely

Pablo Piovano FXStreet

In light of advanced readings from CME Group, open interest increased for the fourth consecutive session on Tuesday, now by nearly 5.3K contracts. On the opposite side, volume prolonged the erratic performance and shrunk by around 13.4K contracts.

EUR/USD appears supported by 1.10

Tuesday’s rebound in EUR/USD was in tandem with the continuation of the uptrend in open interest, which could be hinting at the idea that a rebound lie ahead. This view is reinforced by the fact that the pair is approaching the oversold territory, according to the RSI.

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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