According to preliminary figures for EUR futures markets from CME Group, investors scaled back their open interest positions by around 2.5K contracts on Tuesday vs. Monday’s 538,165 contracts. On the other hand, volume increased by nearly 46.4K contracts after two consecutive daily pullbacks.
EUR/USD could attempt some consolidation, 1.1745/50 still on the cards
EUR/USD is once again approaching the key 1.1700 barrier. Tuesday’s indecision-candle was in tandem with a down tick in open interest and a moderate build in volume, opening the door for some consolidation ahead although with the immediate target still at the 1.1745/50 band.
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