EUR Futures: room for some consolidation near term

In light of preliminary figures for EUR futures markets from CME Group, open interest shrunk by around 4.2K contracts after five consecutive daily builds. In the same line, volume reversed two builds in a row and dropped by nearly 128.3K contracts, the largest single day drop since mid-September.

EUR/USD posed for rangebound

EUR/USD charted an ‘inside day’ on Monday amidst declining open interest and volume. Further indecision is thus likely in the short-term horizon unless the pair manages to surpass recent peaks near 1.1060 on a convincing fashion.