EUR futures: upside limited near term

Pablo Piovano FXStreet

In light of advanced figures for EUR futures markets from CME Group, investors trimmed their open interest positions by around 3.9K contracts on Thursday from Wednesday’s final 544,980. Volume followed suit, shrinking by 29.3K contracts after two consecutive builds.

EUR/USD seen receding to 1.1300

EUR/USD’s up move on Thursday was on the back of diminishing open interest and volume, removing tailwinds from the rebound and opening the door to a potential leg lower to the 1.1300 neighbourhood.

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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.

EUR/USD trims gains, back below 1.1800

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

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

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