EUR futures: bearishness poised to continue

CME Group’s preliminary figures for open interest in EUR futures markets showed investors increased their positions by more than 2.3K contracts vs. Tuesday’s final print at 429,111 contracts. On the opposite side, volume decreased by nearly 13.3K contracts.

EUR/USD still room for a test of 1.1660

EUR/USD is struggling for direction on Thursday, managing to rebound from multi-week lows in the 1.1720 region although the stance remains on the bearish side. Yesterday’s price action has been in line with an uptick in open interest, while volume decreased, albeit by irrelevant levels.

All in all, the negative picture remains intact around spot, which could see August’s lows in the 1.1660 region tested in the near term.