EUR futures: trend unclear, further rangebound ahead

CME Group’s preliminary figures for Monday’s open interest in EUR futures markets showed an increment of nearly 1.3K contracts vs. Friday’s final 427,000 contracts.

Further consolidation expected

There is no change in the EUR/USD’s near term scenario. Prices continue to gravitate between 1.1370 and 1.1440 while open interest has been extending its flattish pattern. While spot is posting its third consecutive session with losses, dips are expected to remain shallow, although a breakout of the 1.1440/50 band could prompt fresh buyers to step in.