EUR futures: room for further downside

Pablo Piovano FXStreet

In light of advanced figures for EUR futures markets, open interest dropped for the second session in a row on Monday, this time by around 6K contracts from Friday’s 628,037 contracts. In the same direction, volume dropped significantly near 220.5K contracts.

EUR/USD looks to 1.1500… and below

The recent up tick in EUR/USD has been on the back of shrinking open interest and volume, hinting at the likeliness that rallies remain tepid while the door stays open for extra downside. That said, the next interim target on the way down should be the 11-month low at 1.1508 seen in later May.

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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