According to CME Group’s preliminary figures for EUR futures markets, investors added nearly 12.7K contracts on Friday from Thursday’s final 510,231 contracts. The recent build in open interest was the largest since August 2. In the same line, volume rose by more than 230K contracts, the largest increase since June 13.
EUR/USD keeps looking south
Friday’s deep pullback in EUR/USD found some follow through today to fresh 13-month lows in the 1.1360 region. The recent robust build in open interest and volume couple with declining prices is a clear bearish sign that opens the door to extra downside in the near term, with the immediate target at 1.1312 (monthly low July 5 2017).
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