In light of preliminary figures for EUR futures markets from CME Group, investors scaled back their open interest positions by nearly 3K contracts on Friday from Thursday’s final 526,959. In the same line, volume dropped for the second session in a row, by around 17.7K contracts.
EUR/USD occasional dips appear contained
EUR/USD is recovering some ground lost today following the negative performance during the second half of last week. Shrinking open interest and volume coupled with the recent decline opens the door for a squeeze higher in the near term.
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