EUR futures: potential for a squeeze higher

Preliminary figures for EUR futures markets from CME Group saw open interest advancing more than 2.5K contracts on Thursday vs. Wednesday’s final 521,856 contracts. On the other hand, volume dropped for the second session in a row, this time by around 57.2K contracts.

EUR/USD still sees a test of 1.1745/50

EUR/USD remains poised to extend the choppy trade so far this week. Yesterday’s down tick was accompanied by a small build in open interest and a sharp drop in volume, noting that bulls could be still in control for the time being. That said, a test of the 1.1745/50 band still remains on the cards.