EUR Futures: door open for further retracements
|In light of advanced data for EUR futures markets from CME Group, investors added around 11.7K contracts to their open interest positions on Thursday, clinching the second build in a row. Volume, instead, remains volatile and shrunk by around 307.2K contracts, the largest single day drop so far this year.
EUR/USD now targets the 55-day SMA at 1.1219
Rising open interest could prompt the weekly correction lower in EUR/USD to extend to the key 55-day SMA at 1.1219. However, higher volatility in volume could slow the pace of the down move and spark some consolidation ahead of further losses.
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