EUR Futures: recovery has further legs

Pablo Piovano FXStreet

Open interest in EUR futures markets rose for yet another session on Wednesday, this time by around 4.6K contracts according to preliminary figures from CME Group. Volume, in the same line, reversed two consecutive drops and rose by a nearly 91.5K contracts.

EUR/USD now targets the 200-day SMA beyond 1.1300

The strong rebound in EUR/USD on the back of USD-selling was on the back of rising open interest and volume, opening the door for the continuation of the squeeze higher in the near term. That said, the critical 200-day SMA at 1.1325 has now returned to the radar.

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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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