EUR futures: upside should be temporary
CME Group’s preliminary figures for EUR futures markets saw open interest rising by nearly 3.5K contracts on Monday vs. Friday’s final 459,078 contracts. On the opposite side, volume dropped significantly by more than 50.4K contracts.
EUR/USD stays upside corrective
EUR/USD has accelerated the upside during the first half of the week, clinching levels beyond 1.1700 the figure and surpassing at the same time the ‘neckline’ of the H&S pattern in the 1.1660/70 band.
The up move, despite being accompanied by a persistent increase in open interest has been also in tandem with diminishing volume, signaling that the fundamentals behind the up tick could be tepid.