/EUR futures: further consolidation likely | by Pablo Piovano | FXStreet

EUR futures: further consolidation likely | by Pablo Piovano | FXStreet

CME Group’s advanced figures for EUR futures markets showed open interest increased by 982 contracts on Friday from Thursday’s final 562,849 contracts. Volume, instead, decreased sharply by more than 182K contracts, partially trimming the significant advance seen during the previous day (ECB meeting). EUR/USD rangebound between 1.2155/1.2555 Friday’s doji-like candle following Thursday’s sharp sell off in the wake of the ECB meeting left the door open for the continuation of the consolidative theme that has been prevailing around EUR/USD since February. Volume decreased sharply albeit it returned to more ‘normal’ levels following the previous strong increase in response to ECB expectations. Activity in open interest remains irrelevant, adding to the rangebound view in the near term.