EUR futures: selling pressure gathers traction

According to CME Group’s flash data for EUR futures markets, open interest dropped by just 50 contracts on Thursday vs. Wednesday’s 444,685 contracts. Volume, instead, increased by more than 183K contracts, the largest increase since September 13.

EUR/USD room for a test of the mid-1.1200s

Yesterday’s ‘outside day’ in EUR/USD is showing some follow through during the European morning on Friday, dragging spot to levels last seen in July in the low-1.1600s.

Practically muted activity in open interest leaves all the attention to the significant increase in volume, hinting at the likelihood of further and deeper pullbacks, with the 200-day sma today at 1.1245 emerging as the next support of relevance.