According to flash figures for EUR futures markets from CME Group, traders added around 4.8K contracts to their open interest positions on Tuesday from Monday’s final 621,851 contracts, reverting two consecutive daily builds. Volume followed suit, up for the first time after two consecutive drops, this time by more than 107.6K contracts.
EUR/USD looks further south
The recent leg lower in EUR/USD has been on the back of rising volume and open interest, a bearish signal that hints at the likeliness that extra pullbacks remain on the cards, with the immediate target at YTD lows near 1.1510.
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