EUR futures: neutral/bearish near term

According to preliminary figures for EUR futures markets from CME Group, investors added around 10.7K contracts on Friday vs. Thursday’s final 540,778 contracts. Volume, instead, shrunk y almost 5.5K contracts, recording the second consecutive drop.

EUR/USD still targets 1.1300 and below

EUR/USD’s sharp drop on Friday was accompanied by an uptick in open interest, allowing for a continuation of the down move to the 1.1300 neighbourhood and possibly below. The recent drop in volume, however, could slow the pace of the pullback and prompt some near term consolidation.