EUR Futures: scope for a deeper retracement

In light of flash data for EUR futures markets from CME Group, investors added around 6.8K contracts to their open interest positions on Friday, extending the uptrend. In the same line, volume went up for the third session in a row, increasing by around 28.4K contracts.

EUR/USD now looks to 1.0840

EUR/USD dropped to fresh 2019 lows near 1.0960 on Friday, managing to regain some composure soon afterwards. Rising open interest ad volume against declining prices opens the door for further downside in the near term. That said, there are no relevant support levels until May 2017 low in the 1.1.0840 region.