EUR futures: extra downside likely near term

Pablo Piovano FXStreet

CME Group’s advanced figures for EUR futures markets showed investors trimmed their open interest positions by more than 1.1K contracts on Tuesday vs. Friday’s final 578,630 contracts. Volume, instead, rose significantly by more than 93K contracts, recording the second consecutive build at the same time.

EUR/USD: scope for a test of 1.2200 and beyond

The ongoing leg lower in EUR/USD is accompanied by a pick up in volume so far this week - clear bearish sign - while activity in open interest remains somewhat steady. That said, the door is now open for a potential test of last week’s lows in the 1.2200 neighbourhood ahead of the more relevant support in the 1.2160 region.

Author

Pablo Piovano

FXStreet

Born and bred in Argentina, Pablo has been carrying on with his passion for FX markets and trading since his first college years.

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