In light of advanced data for EUR futures markets from CME Group, investors added around 19.6K contracts to their open interest positions on Wednesday, reaching the fifth consecutive build. In addition, volume rose for the second day in a row, this time by around 32.8K contracts.
EUR/USD looks to a probable test of 2019 lows
EUR/USD’s negative price action on Wednesday was accompanied by rising open interest and volume, hinting at the likelihood that further decline lies ahead. A dovish surprised at the ECB event today carries the potential to drag spot to another test of 2019 lows in the 1.0920 area.
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