EUR Futures: further upside well on the cards

Pablo Piovano FXStreet

Open interest in EUR futures markets rose once again on Wednesday, now by around 7.4K contracts, recording the fourth consecutive build according to preliminary data from CME Group. In the same line, volume clinched the second advance in a row, this time by around 56.6K contracts.

EUR/USD now looks to 1.1180/1.1200

The persistent weakness in the Dollar continues to fuel the up move in EUR/USD. Rising open interest and volume sustain the upside momentum and open the door to a potential test of monthly tops around 1.1180 and even a visit to the 1.1200 neighbourhood 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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