EUR Futures: neutral/bullish near term

Pablo Piovano FXStreet

In light of preliminary figures for EUR futures markets from CME Group, open interest rose for yet another session, this time by just 890 contracts. On the other hand, volume extended the choppy activity and shrunk by nearly 92K contracts.

EUR/USD could extend the up move to the 200-day SMA above 1.1200

The rally in EUR/USD could extend further north of the 1.1200 handle in the next sessions - where is located the critical 200-day SMA - always sustained by rising open interest. However, Friday’s strong drop in volume could prompt some caution, particularly in light of current ‘overbought’ levels in spot.

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.

EUR/USD trims gains, back below 1.1800

EUR/USD now loses some upside momentum, returning to the area below the 1.1800 support as the Greenback manages to regain some composure following the SCOTUS-led pullback earlier in the session.

GBP/USD off highs, recedes to the sub-1.3500 area

Following earlier highs north of 1.3500 the figure, GBP/USD now faces some renewed downside pressure, revisiting the 1.3490 zone as the US Dollar manages to regain some upside impulse in the latter part of the NA session on Friday.

Gold climbs to weekly tops, approaches $5,100/oz

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