EUR futures: further rangebound likely

Pablo Piovano FXStreet

According to flash data from CME Group for EUR futures markets, traders added around 2.6K contracts on Friday from Thursday’s final 509,091 contracts. On the opposite direction, volume dropped for the second session in a row, this time by nearly 7.1K contracts.

EUR/USD stays within 1.12-1.15 for the time being

Rising open interest reinforces the idea of the continuation of the up move, although shrinking volume is expected to remove tailwinds from the up move, leaving the outlook on EUR/USD fairly neutral 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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