EUR Futures: downside momentum picks up pace

In light of preliminary figures for EUR futures markets from CME Group, investors added nearly 4.8K contracts to their open interest positions on Tuesday, reaching the second build in a row. In the same line, volume reversed two consecutive drops and increased by almost 40K contracts.

EUR/USD now targets the 55-day SMA near 1.1040

The moderate correction lower in EUR/USD was accompanied by rising open interest and volume, opening the door for the continuation of the down move in the near term. That said, the next target of relevance comes at the 55-day SMA in the 1.1040 region.