EUR futures: further upside unlikely

Pablo Piovano FXStreet

In light of CME Group’s advanced data for EUR futures markets, traders added only 48 contracts on Thursday to Wednesday’s final 473,562 contracts. On the other hand, volume decreased significantly by almost 112K contracts, partially reverting Tuesday’s increase.

EUR/USD upside still capped around 1.1880

The recent price action around EUR/USD has been quite choppy, all amidst rising open interest albeit at a slower pace and a significant decrease in volume. The recent multi-week tops in the 1.1860 area are viewed as an interim resistance prior to the more relevant area around 1.1880.

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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