EUR futures: neutral/bearish near term

Pablo Piovano FXStreet

In view of preliminary figures for EUR futures markets from CME Group, investors scaled back their open interest positions by almost 2.9K contracts on Thursday vs. Wednesday’s final 567,922 contracts. Instead, volume rose by nearly 6.7K contracts, partially reverting the previous significant drop.

EUR/USD a test of 1.2200 remains on the cards

Recent activity in both open interest and volume appears far from significant, leaving the near term bearish stance on EUR/USD unchanged. Hence, the door stays open for a probable test of February’s low in the 1.2200 neighbourhood, while bullish attempts should remain tepid.

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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