EUR futures: recovery appears tepid

Pablo Piovano FXStreet

In light of preliminary figures for EUR futures markets from CME Group, investors added around 5.5K contracts to their open interest positions on Monday from Friday’s 508,521 contracts. On the other hand, volume dropped for the first time after two consecutive builds by more than 60K contracts.

EUR/USD could regain 1.1600 and (not much) above

EUR/USD tested and rebounded from the 1.1530 region on Monday, the recovery came along a build in open interest that could open the door to a potential squeeze higher, probably to 1.1600 and above. Shrinking volume, however, should leave occasional bullish attempts shallow, however.

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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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