EUR futures: a near term top in place?

According to CME Group’s advanced data for EUR futures markets, open interest dropped by nearly 3.9k contracts on Monday vs. Friday’s final reading at 464,267 contracts. In the same line, volume decreased significantly by more than 76K contracts.

EUR/USD faces potential consolidation near term

Price action around EUR/USD remains unconvincing for the time being amidst a broad based decline in both open interest and volume. The pattern could signal further liquidation of long positions ahead of a re-emergence of the up trend, while some rangebound is also expected in the near term.