EUR Futures: scope for extra gains

Pablo Piovano FXStreet

In light of flash data for EUR futures markets from CME Group, investors added just 83 contracts to their open interest positions on Friday, reversing four consecutive pullbacks. In the same line, volume rose for the second session in a row, this time by around 15.7K contracts.

EUR/USD could test the Fibo retracement at 1.1186

EUR/USD charted a bullish ‘outside day’ at the end of last week, opening the door for the continuation of the squeeze higher in the near term. Rising open interest and volume should support a probable test of higher levels. Next relevant target comes in at 1.1186, Fibo retracement of the 2017-2018 rally.

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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