EUR futures: further downside not ruled out

In light of advanced figures for EUR futures markets, open interest rose by nearly 2K contracts on Wednesday from Tuesday’s final 504,458 contracts. In the same line, volume increased by more than 63K contracts.

EUR/USD still targets 1.1299… and below

EUR/USD’s pullback on Wednesday was accompanied by rising open interest and volume, hinting at the likelihood that the leg lower has room to extend further, finding YTD low at 1.1299 as the immediate target.