EUR futures: potential squeeze lower near term

Pablo Piovano FXStreet

According to Friday’s preliminary figures for open interest and volume in EUR futures markets, traders increased their positions by more than 2.8K contracts vs. Thursday’s 247,733 contracts.

Buy the dips?

Unclear trend in both volume and open interest on Friday following the positive close let us think that the bullish attempt could have run out of some steam for the time being. This view falls in line with the expected pick up in cautiousness among investors ahead of the key ECB meeting on Thursday.

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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