Preliminary figures for EUR futures markets from CME Group noted open interest rose by 788 contracts on Thursday from Wednesday’s final 496,481 contracts. Volume followed suit, advancing for the third session in a row, this time up by around 25K contracts
EUR/USD extra consolidation likely, a test to 1.1575 is not ruled out
EUR/USD is prolonging the bearish note in the wake of the ECB meeting and yesterday’s ‘outside day’, testing fresh lows in the 1.1630/20 band amidst rising volume and open interest. That said, further consolidation appears likely while a break below 1.1600 to 1.1575/70 also remains on the cards.
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