EUR futures: downtrend could be losing traction
In light of CME Group’s advanced figures from EUR futures markets, investors trimmed their open interest positions by just 223 contracts on Wednesday from Tuesday’s final 526,058 contracts. In the same line, volume shrunk significantly by around 78.2K contracts.
EUR/USD chances of a U-turn near term
EUR/USD continues to lose ground this week. However, declining prices amidst shrinking open interest and volume could open the door for a probable reversion and subsequent squeeze higher in the very near term.