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EUR futures: recovery expected to continue

In light of preliminary figures for EUR futures markets from CME Group, investors added nearly 3K contracts to their open interest positions on Tuesday, advancing uninterruptedly since April 16. In the same line, volume reversed the previous drop and increased by around 96.5K contracts.

EUR/USD now looks to 1.1250

The recovery in EUR/USD from last week’s YTD lows in the proximity of 1.1100 the figure should remain unchanged in the very near term on the back of rising open interest and volume. That said, the 21-day SMA in the 1.1230 region should offer initial resistance ahead of the mid-1.1200s.