EUR futures: diminished odds for extra pullbacks

According to CME Group’s flash figures for EUR futures markets, open interest decreased by nearly 800 contracts on Monday vs. Friday’s final 440,694 contracts, recording at the same time the fourth drop in a row. In the same line, volume retreated for the second consecutive session, this time by more than 123K contracts.

EUR/USD: decent support emerges at 1.1570

EUR/USD’s up tick at the beginning of the week has been accompanied by another decrease in both open interest and volume, hinting at the fact that a potential reversion of the current down move still remains on the cars.

Hence, post-ECB lows in the 1.1570 region seen on Friday now emerge as the initial and strong contention in case heavy sellers return to the market. In addition, and with the ECB now out of the way, USD-dynamics should be the main catalyst of the pair’s price action, at least in the very near term.