EUR Futures: deeper pullback is now likely

In light of advanced figures for EUR futures markets from CME Group, open interest rose for yet another session, this time by around 4.6K contracts. In the same direction, volume went up by nearly 108.5K contracts, reversing three consecutive drops.

EUR/USD now looks to 1.0839

EUR/USD accelerated the decline in the wake of the FOMC meeting. the down move was accompanied by rising open interest and volume, hinting at the probability of a deeper retracement in the near term. That said, immediately to the downside emerges May 2017 lows in the 1.0840 region.