EUR futures: extra rangebound likely

According to CME Group’s advanced data for EUR futures markets, open interest dropped by more than 3.3K contracts on Tuesday vs. Monday’s final 601,458 contracts. On the opposite side, volume rose by nearly 89K contracts.

EUR/USD: interim top above 1.2500

An uptick in volume has accompanied yesterday’s ‘indecision’ candle, while open interest receded slightly. EUR/USD thus appears submerged into further consolidation in the near term while it keeps waiting for stronger catalysts. In this scenario, the inability of investors to re-text tops beyond the 1.2500 handle opens the door to the idea that an interim top maybe in place for the time being.