In light of advanced figures for EUR futures markets, open interest dropped for the second session in a row on Monday, this time by around 6K contracts from Friday’s 628,037 contracts. In the same direction, volume dropped significantly near 220.5K contracts.
EUR/USD looks to 1.1500″¦ and below
The recent up tick in EUR/USD has been on the back of shrinking open interest and volume, hinting at the likeliness that rallies remain tepid while the door stays open for extra downside. That said, the next interim target on the way down should be the 11-month low at 1.1508 seen in later May.
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