In light of flash data for EUR futures markets from CME Group, investors trimmed their open interest positions by just 804 contracts at the beginning of the week, reaching the second drop in a row. In the same line, volume shrunk once again, this time by around 71.8K contracts.
EUR/USD likely to meet contention in the 1.1180 region
EUR/USD is challenging 6-week lows in the 1.1190 region today. However, declining open interest and volume coupled with negative price action carries the potential to spark a squeeze higher in the near term, while the 1.1180 area is seen as providing strong support for the time being.
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