EUR futures: potential consolidation near term

CME Group’s preliminary figures for EUR futures markets on Wednesday showed open interest rose by more than 1.1K contracts vs. Tuesday’s final 469,307 contracts. Volume stays choppy, this time decreasing by more than 43K contracts.

EUR/USD a top above 1.20 appears in place

The ongoing correction lower in EUR/USD following Tuesday’s fresh tops beyond 1.2000 the figure remains underway, although it seems to have lost some momentum for the time being. Volume decreased significantly yesterday, while open interest rose for he second consecutive session, albeit by irrelevant levels. All in all, the likeliness of a period of consolidation seems likely, at least until the next ECB meeting on September 7.