EUR Futures: upside could be losing traction

Open interest in EUR futures markets rose by just 75 contracts on Friday according to preliminary figures from CME Group. Volume, instead, dropped for the second session in a row, this time by nearly 40.9K contracts.

EUR/USD stays capped by the 200-day SMA

The positive momentum in EUR/USD looks unabated for the time being. However, the uptrend in open interest seems to be losing strength while volume keeps decreasing. While below the 200-day SMA, spot is expected to remain under pressure.