EUR futures: downside momentum persists

In light of CME Group’s advanced figures for EUR futures markets, open interest decreased for the third consecutive day, now by a meagre 665 contracts vs. Monday’s final 461,892 contracts. Volume, instead, rose by more than 42K contracts.

EUR/USD risks further pullbacks

The continuation of the downtrend in open interest amidst softer price action implies that there should be room for further decline in the near term.

EUR/USD's pullback on Tuesday was accompanied by an increase in volume, reinforcing the idea that more investors might be willing to liquidate their positions.