EUR futures: scope for extra downside

Pablo Piovano FXStreet

CME Group’s advanced data for EUR futures markets showed open interest rose by more than 6.2K contracts on Friday vs. Thursday’s 574,231 contracts. In the same line, volume rose by more than 35.1K contracts.

EUR/USD still points to 1.2165

EUR/USD’s charted a key reversal day on Friday and the move has been accompanied by both rising open interest and volume, opening the door at the same time for a continuation of the selling bias. The pair appears to have topped above 1.2500 the figure for the time being, while EUR-bears now re-shifted the focus back to the key 1.2165 level.

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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