EUR Futures: pullbacks appear shallow

Pablo Piovano FXStreet

Investors scaled back their open interest positions by just 135 contracts on Thursday after two consecutive daily builds, according to preliminary figures from CME Group. In the same line, volume shrunk by around 11.3K contracts, prolonging the choppy performance seen as of late.

EUR/USD remains capped by 1.1080/90

EUR/USD is extending the multi-session sidelined mood, always capped by the 1.1080/90 band. Thursday’s negative price action was in tandem with shrinking open interest and volume, hinting at the likeliness that a deeper pullback appears unlikely and leaving the consolidative scenario well in place for the time being.

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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