EUR futures: rangebound trade poised to continue

According to preliminary figures for EUR futures markets from CME Group, open interest dropped by more than 13.2K contracts on Friday vs. Thursday’s final 488,587 contracts. In the same line, volume decreased by almost 71.5K contracts.

EUR/USD could test 1.1850 and above

Choppy activity in both open interest and volume as of late reinforces the near term neutral view on EUR/USD, although the ongoing up move still carries the potential to extend to June’s peaks in the mid-1.1800s.