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EUR futures: further downside in the pipeline

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In light of advanced figures for EUR futures markets from CME Group, open interest rose by just 470 contracts on Tuesday vs. Monday’s final 515,169 contracts. Volume rose for the first time after two consecutive drops, this time by around 130K contracts, the largest build since May 2.

EUR/USD now looks to 1.1718

EUR/USD recorded and closed around fresh YTD lows around 1.1820 on Tuesday amidst a small uptick in open interest and a significant build in volume, which leaves the door open for a continuation of the selling bias and a potential test of 1.1718, December 2017 lows.

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