EUR Futures: neutral/bearish near-term

Pablo Piovano FXStreet

According to flash data for EUR futures markets from CME Group, open interest rose by nearly 3.8K contracts on Friday. Volume, instead, reversed to consecutive daily pullbacks and shrunk by around 5.3K contracts.

EUR/USD looks supported by the 55-day SMA

Friday’s moderate pullback in EUR/USD was on the back of rising open interest and declining volume, favouring some consolidation in the near-term. That said, while the 55-day SMA in the 1.1090 area is expected to offer solid contention, a move below this level should not be ruled out.

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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