EUR futures: recovery looks tepid, scope for further pullbacks

In light of advanced figures for EUR futures markets from CME Group, investors trimmed their open interest positions by more than 4.1K contracts on Wednesday vs. Tuesday’s final 494,539 contracts. On the other hand, volume increased by around 11.3K contracts, advancing for the second day in a row.

EUR/USD bearish below 1.1664. Targets 1.1527.08

EUR/USD keeps the bearish note intact today amidst increasing volume and an uptick in open interest. While the 21-day SMA caps, the outlook for further decline remains on the cards as well as a test of the 1.1500 neighbourhood, or 2018 lows.