The following table shows how open interest is typically interpreted for a futures contract.
| Futures Price | Open Interest | Interpretation |
|---|---|---|
| Rising | Rising | Strong/strengthening |
| Rising | Falling | Weakening |
| Falling | Rising | Weak/weakening |
| Falling | Falling | Strengthening |
The data then must be applied to the forex market. For example, strength in euro futures (US dollar weakness) will likely keep pushing the EUR/USD higher. Weakness in Japanese yen futures (US dollar strength) will likely push the USD/JPY higher.
Futures volume and open interest information is available from CME Group and is also available through trading platforms such as TD Ameritrade’s Thinkorswim.