Open interest in EUR futures markets rose for the fifth consecutive session at the beginning of the week, this time by around 5.7K contracts according to advanced readings from CME Group. Volume, instead, shrunk by around 32.2K contracts, extending the choppy activity seen in past sessions.
EUR/USD: Next stop at 1.0879?
The bearish sentiment remains entrenched into EUR/USD, which could now extend the leg lower to the 1.0880 region, or 2019 lows. This view is well reinforced by another increase in open interest coupled with Monday’s pullback.
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