EUR Futures: Further decline not ruled out
Open interest in EUR futures markets shrunk for the second session in a row on Tuesday, this time by just 928 contracts according to flash data from CME Group. On the other side, volume posted the largest single day build so far this year, up by around 153.5K contracts.
EUR/USD: Downside momentum losing traction?
EUR/USD closed below the key support at 1.08 the figure on Tuesday, levels last seen in April 2017. While the large build in volume opens the door for extra pullbacks in the near-term, shrinking open interest also hints at the likeliness that the downside momentum could be running out of steam.