EUR Futures: further upside not ruled out

Pablo Piovano FXStreet

In light of flash data for EUR futures markets from CME Group, open interest increased by around 7.5K contracts on Thursday, reversing the previous small drop. In the same line, volume rose by around 9.2K contracts following a moderate drop in the previous day.

EUR/USD looks limited around 1.1080

Thursday’s inconclusive price action in EUR/USD was on the back of rising open interest and volume. While some consolidation seems likely in the near term, another squeeze higher should not be ruled out, although the 1.1080 region is expected to cap the upside for the time being.

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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