EUR futures: extra gains appear unlikely

In light of CME Group’s advanced figures for EUR futures markets, investors added more than 1.5K contracts on Monday vs. Friday’s final 495,934 contracts. On the opposite side, volume decreased by more than 61K contracts.

EUR/USD diminished odds for a test of 1.20

EUR/USD is extending the weekly correction lower following Monday’s fresh multi-week tops in the 1.1960 region. The down move has been in tandem with a small up tick in open interest.

Occasional dips, however, should be shallow, as yesterday’s decrease in volume removed fundamentals to the move.