EUR futures: upside remains healthy

Pablo Piovano FXStreet

In light of CME Group’s preliminary data for EUR futures markets, traders increased their open interest positions by more than 13.6K contracts on Thursday vs. Wednesday’s561,548 contracts. The up tick in open interest came after eight consecutive drops. Volume, instead, decreased significantly by nearly 112K contracts.

EUR/USD set sails for 1.2600

EUR/USD is up for the fifth consecutive session today, retreating from earlier multi-year tops in the mid-1.2500s. The up move has been on the back of increasing open interest, while a significant drop in volume could remove some tailwinds from the bull run. However, risk sentiment remains everything but weak and a test of the key Fibo retracement at 1.2598 is back on the radar.

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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