EUR futures: correction lower could accelerate

According to CME Group’s advanced figures for EUR futures markets, investors added more than 9.3K contracts to their open interest positions on Wednesday vs. Tuesday’s final 584,759 contracts, recording the third consecutive build. In the same line, volume rose significantly by more than 106K contracts, clinching the third gain in a row.

EUR/USD still capped by 1.2445/50

EUR/USD is down for the second straight session today. The recent down move has been in tandem with shrinking volume and open interest, indicating liquidation of long positions by traders. That said, recent lows in the 1.2270 area should offer initial contention.