EUR futures: recovery has further legs

Pablo Piovano FXStreet

According to CME Group’s preliminary figures, open interest in EUR futures markets rose by more than 1.1K contracts on Tuesday from Friday’s final 541,573 contracts, recording the second advance in a row. In the same line, volume rose significantly by around 96.8K contracts.

EUR/USD now targets 1.1400 and above

The positive performance of EUR/USD on Tuesday was in tandem with rising open interest and volume, a bullish sign that opens the door for the continuation of the upside momentum. That said, the 100-day SMA near 1.1400 the figure emerges as the next key target.

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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