EUR Futures: neutral/bearish near term

In light of advanced data for EUR futures markets from CME Group, investors added around 1.1K contracts to their open interest positions on Wednesday, reversing at the same time six consecutive daily drops. Volume, instead, shrunk by almost 16K contracts, reaching the second drop in a row.

EUR/USD risks a deeper retracement

Yesterday’s negative price action in EUR/USD was on the back of rising open interest, allowing for the continuation of the down move. Decreasing volume, however, could spark some consolidation prior to extra losses in the short-term horizon.