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EUR futures: extra downside on the cards

CME Group’s preliminary figures for EUR futures markets showed open interest decreased by nearly 3.7K contracts on Friday vs. Thursday’s final 446,454 contracts. On the other side, volume rose by almost 5.9K contracts.

EUR/USD potential visit to 1.1570

EUR/USD remains under pressure at the beginning of the week around the 1.1600 handle. Friday’s retracement has been in tandem with a down tick in open interest and a modest increase in volume, hinting at the likeliness that further consolidation lies ahead of potential extra pullbacks. The interim targets emerges in the 1.1570 area, October’s multi-month lows.

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