EUR Futures: recovery looks shallow

Open interest in EUR futures markets went down by just 700 contracts at the beginning of the week, reversing five consecutive daily builds according to preliminary figures from CME Group. In the same line, volume shrunk for the second day in a row, now by around 30.3K contracts.

EUR/USD seen struggling near the 55-day SMA

EUR/USD is looking to extend the recovery from Friday’s 3-week lows amidst shrinking open interest and volume. That said, the pair still needs to surpass the key 55-day SMA in the 1.1040 region to allow for extra gains to levels beyond 1.1100 the figure.