EUR futures: extra gains unlikely

In light of preliminary figures for EUR futures markets, traders scaled back their open interest positions by almost 2.3K contracts on Thursday vs. Wednesday’s final 510,744 contracts. In the same direction, volume rose by around 22.4K contracts.

EUR/USD still in consolidative mode

EUR/USD’s price action remains flat so far this week amidst choppy activity in open interest. However, the lack of upside traction in combination with the inability to return to the upper end of the range near 1.2400 the figure and rising volume leaves the door open not only for a continuation of the sideline theme, but also allows for some further correction lower.