EUR futures: squeeze higher expected to continue

In light of advanced data for EUR futures markets from CME Group, investors added around 7.7K contracts to their open interest positions on Thursday from Wednesday’s final 510,412 contracts, the largest gain since April 10. In the same line, volume increased significantly by more than 76K contracts, reverting the previous decline.

EUR/USD scope for a test of 1.2000/19

Yesterday’s strong rebound in EUR/USD has been on the back of rising both open interest and volume, all indicative of a constructive scenario. That said, the pair could have carved an interim low in the 1.1820 area (Wednesday), while a probable re-visit to the 1.2000/19 area now emerges in the horizon.