EUR futures: further downside on the cards

According to advanced data from CME Group for EUR futures markets, investors added nearly 21K contracts to their open interest positions on Friday vs. Thursday’s final 592,770 contracts. On the other hand, volume went down by almost 88K contracts, reverting four consecutive builds.

EUR/USD scope for a test of 1.2165/55

EUR/USD is losing ground for the fourth consecutive session so far on Monday. The continuation of the down move has been accompanied by rising open interest, reinforcing the current bearish view and at the same time allowing for a potential re-test of the support band at 1.2165/55. However, the strong fall in volume could remove some tailwinds from the downside momentum.