EUR futures: scope for further recovery

Pablo Piovano FXStreet

In light of preliminary figures for EUR futures markets, investors added more than 7.3K contracts on Friday from Thursday’s final 492,003 contracts. In the same line, volume increased by around 10K contracts.

EUR/USD could target 1.1790

The recent recovery in EUR/USD has been on the back of rising both open interest and volume, a bullish scenario that could motivate spot to attempt a move to recent peaks in the 1.1790 region. Gains beyond this point appear unlikely, however, as the Fed-ECB policy divergence and the USD carry appeal remain poised to favour the buck.

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.

EUR/USD trims gains, back below 1.1800

EUR/USD now loses some upside momentum, returning to the area below the 1.1800 support as the Greenback manages to regain some composure following the SCOTUS-led pullback earlier in the session.

GBP/USD off highs, recedes to the sub-1.3500 area

Following earlier highs north of 1.3500 the figure, GBP/USD now faces some renewed downside pressure, revisiting the 1.3490 zone as the US Dollar manages to regain some upside impulse in the latter part of the NA session on Friday.

Gold climbs to weekly tops, approaches $5,100/oz

Gold keeps the bid tone well in place at the end of the week, now hitting fresh weekly highs and retargeting the key $5,100 mark per troy ounce. The move higher in the yellow metal comes in response to ongoing geopolitical tensions in the Middle East and modest losses in the US Dollar.