EUR futures: upside losing momentum

CME Group’s advanced data for EUR futures markets showed open interest retreated by more than 2.2K contracts on Monday vs. Friday’s final 466,163 contracts. In the same direction, volume contracted significantly by nearly 119K contracts.

EUR/USD correction lower in the pipeline

EUR/USD’s uptick during the first half of the week lacks the support of both open interest and volume, leaving the chances of a potential deeper pullback well on the cards for the time being. The broader picture keeps pointing to the recent up trend running out of steam.

Open interest retreated for the second session in a row, while both volume and open interest keep running below the monthly average.