EUR futures: upside losing traction?

Pablo Piovano FXStreet

In light of preliminary figures for EUR futures markets from CME Group, investors added nearly 11K contracts to their open interest positions on Monday from Friday’s final 510,088 contracts. On the other hand, volume shrunk once again, this time by almost 21K contracts.

EUR/USD faces strong resistance in the upper 1.1400s

Monday’s up move in EUR/USD was on the back of rising open interest while volume kept retreating, hinting at the likelihood that the up move could be running out of steam. In the meantime, the 1.1470/80 area, where lies the 100-day SMA, is probing to be quite a tough barrier for the time being.

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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