EUR Futures: extra downside on the cards

Preliminary figures for EUR futures markets from CME Group noted open interest went up by nearly 25K contracts on Thursday, the largest single day build so far this year. In the same direction, volume increased by around 58.3K contracts, reversing part of the previous drop.

EUR/USD now looks to 1.10

The persistent selling bias in EUR/USD looks reinforced by rising open interest and volume for the time being. That said, a deeper move to the 1.10 neighbourhood looks increasingly likely in the short-term horizon.