EUR futures: upside corrective near term
|According to preliminary figures for EUR futures markets, investors trimmed their open interest positions by just 282 contracts on Friday from Thursday’s final 482,727 contracts. In the same direction, volume recorded its second consecutive drop, this time by nearly 9.7K contracts.
EUR/USD still targets sub-1.1500 levels
Friday’s small uptick in EUR/USD was on the back of shrinking open interest and volume, removing tailwinds from a serious bullish attempt and at the same time leaving the door open for further weakness to, initially, the mid-1.1400s ahead of YTD low at 1.1299.
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