EUR futures: decline poised to accelerate

According to CME Group’s preliminary figures for EUR futures markets, open interest rose by more than 2.3K contracts on Tuesday from Monday’s final 515,291 contracts. In the same line, volume increased sharply by more than 125K contracts.

EUR/USD now targets 1.18 and below

The leg lower in EUR/USD appears poised to continue against the backdrop of declining prices and rising open interest and volume, all indicative that further downside remains in the pipeline and at the same time reinforces the bearish view on spot in the near term.