EUR Futures: under downside pressure near term

In light of preliminary figures for EUR futures markets from CME Group, investors added nearly 1.7K contracts to their open interest positions on Friday, reversing two consecutive daily drops. Volume, in the same line, increased by around 10.8K contracts following two drops in a row.

EUR/USD could slip back to 1.13 and below

EUR/USD has started the week on a negative mood breaking below 3 consecutive daily ‘dojis’. Increasing open interest and volume opens the door for extra downside in the near term with immediate target at the 1.1300 neighbourhood, where lies the 21-day SMA.