EUR Futures: Rally shows signs of exhaustion
CME Group’s preliminary figures for EUR futures markets noted open interest shrunk by yet another session on Thursday, this time by just 940 contracts. Volume, instead, reversed four consecutive pullbacks and rose by nearly 35.1K contracts.
EUR/USD looks to break the 200-day SMA
EUR/USD is prolonging the weekly recovery and is already flirting with the critical 200-day SMA in the 1.1080 region. However, the persistent downtrend in open interest warns against the continuation of the move up and could spark some correction in the near term.