/EUR futures: risks extra pullbacks | by Pablo Piovano | FXStreet

EUR futures: risks extra pullbacks | by Pablo Piovano | FXStreet

CME Group’s advanced figures for EUR futures markets showed investors added more than 10.2K contracts to their open interest positions on Thursday from Wednesday’s final 557,703 contracts. In the same line, volume posted its largest daily increase so far this year, by almost 233K contracts. EUR/USD door open for a visit to 1.2165/55 Thursday’s sharp pullback in EUR/USD and the inability to sustain extra gains beyond the 1.2440 area left the door open for further declines in the near term. The sell off has been accompanied by a significant increase in volume and open interest, reinforcing this view. That said, a test of 1.2206 (February 9) is back on the radar. If cleared, 1.2165 (January 18 low) should emerge once again on the horizon ahead of 1.2153 (monthly low so far – March 1).