EUR Futures: further rangebound looks likely
CME Group’s flash data for EUR futures markets showed investors increased their open interest positions by around 2.6K contracts on Thursday, recording the second build in a row. Volume, instead, reversed two consecutive builds and shrunk by nearly 61K contracts.
EUR/USD could move into a consolidation phase
Thursday’s doji-like price action in EUR/USD was on the back of another increase in open interest while volume receded moderately. While some consolidation is expected in the very near term, another bout of weakness to, initially, the 55-day SMA should not be ruled out.