EUR Futures: recovery expected to continue

Open interest in EUR futures markets rose moderately at the beginning of the week by nearly 13.8K contracts, according to preliminary readings from CME Group. On the other hand, volume extended the choppy activity and shrunk by almost 8.6K contracts.

EUR/USD keeps targeting the 200-day SMA

EUR/USD is extending the recovery on the back of the better tone in the risk complex. That said, Monday’s increase in open interest coupled with positive price action leaves the door open for extra gains in the near-term with immediate target at the 200-day SMA in the 1.1140 region.