EUR futures: further downside unlikely

According to CME Group’s preliminary figures for EUR futures markets, investors trimmed their open interest positions by almost 3.2K contracts on Wednesday from Tuesday’s final 515,132 contracts. In the same direction, volume dropped by nearly 24.5K contracts, recording the second consecutive decline.

EUR/USD could attempt a squeeze higher

EUR/USD tested fresh 2018 lows in the vicinity of 1.1800 the figure on Tuesday, albeit it closed above lows. Declining prices coupled with shrinking volume and open interest allow for a potential U-turn, which should find initial contention in the 1.19 proximity.