EUR futures: rangebound likely near term

Pablo Piovano FXStreet

Open interest in EUR futures markets shrunk by nearly 1.9K contracts on Monday from Friday’s final 500,343 contracts, according to advanced figures from CME Group. Volume followed suit and dropped by around 83.7K contracts.

EUR/USD faces strong hurdle above 1.1300

The upside in EUR/USD appears to have met a tough hurdle above 1.1300 the figure. That, in combination with declining open interest and volume should allow for some consolidation in the short-term horizon.

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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