EUR futures: optimistic ahead of ECB
CME Group’s advanced data for EUR futures markets saw investors adding more than 4.3K contracts to their open interest positions on Tuesday vs. Monday’s final 556,623 contracts. In the same direction, volume rose by more than 8.3K contracts.
EUR/USD eroding key resistance line
The upbeat sentiment around EUR/USD remains well and sound so far this week. The up move has been recently accompanied by rising open interest and volume, albeit by not so significant levels.
However, spot has commenced to erode the key resistance area above 1.2400 the figure, where sits the key short-term resistance line off 2018 lows seen in January. The underlying sentiment allows for some extra gains, although caution should start to grow bigger in light of the imminent ECB meeting (Thursday).
