EUR futures: correction lower in the offing?

In light of preliminary figures for EUR futures markets from CME Group, investors added nearly 1.9K contracts to their open interest positions on Tuesday vs. Monday’s final 527,875 contracts. Volume followed suit, up by around 43.5K contracts and partially offsetting the previous drop.

EUR/USD still capped by 1.1745/50

The more-than-4-cents rally in EUR/USD met strong resistance in the 1.1730/35 band for the time being. Yesterday’s up tick failed to close near session highs amidst increasing open interest and volume, reinforcing the view that a correction lower could be imminent.