EUR Futures: Extra gains look unlikely

Open interest in EUR futures markets shrunk for the third consecutive session at the beginning of the week, this time by around 1.2K contracts, in light of preliminary readings from CME Group. In the same line, volume dropped by the second day in a row, now by around 33.4K contracts.

EUR/USD: Upside remains capped

Monday’s positive price action in EUR/USD was in tandem with shrinking open interest and volume, hinting at the idea that a serious rebound will still have to wait. In this regard, the 1.0990/1.1000 band remains the initial target of relevance.