EUR futures: further upside unlikely
In light of CME Group’s advanced data for EUR futures markets, traders added only 48 contracts on Thursday to Wednesday’s final 473,562 contracts. On the other hand, volume decreased significantly by almost 112K contracts, partially reverting Tuesday’s increase.
EUR/USD upside still capped around 1.1880
The recent price action around EUR/USD has been quite choppy, all amidst rising open interest albeit at a slower pace and a significant decrease in volume. The recent multi-week tops in the 1.1860 area are viewed as an interim resistance prior to the more relevant area around 1.1880.