EUR futures: scope for extra downside

In light of preliminary figures for EUR futures markets from CME Group, investors trimmed their open interest positions by around 1.7K contracts on Friday from Thursday’s final 632,127 contracts. In the same direction, volume collapsed by almost 498K contracts (the largest drop so far this year).

EUR/USD refocused on 1.1510

EUR/USD's small up tick on Friday has been on the back of a small increase in open interest and a massive drop in volume, leaving the door open for further retracements with the initial target at 2018 lows in the boundaries of the 1.1500 handle.