In light of preliminary figures for EUR futures markets from CME Group, investors added around 1.8K contracts to their open interest positions on Thursday from Wednesday’s final 531,200 contracts, recording at the same time the fourth consecutive build. Volume, instead, decreased by more than 4.5K contracts after two consecutive builds.
EUR/USD looks to the 55-day SMA at 1.1618
EUR/USD failed to surpass the 1.1730 area, originating a temporary consolidative theme that could morph into a potential correction lower to the immediate target at 1.1618, where sits the 55-day SMA. Yesterday’s down move was on the back of rising open interest (bearish), while the drop in volume appears irrelevant.
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