EUR futures: room for a test of 1.2540

According to CME Group’s advanced data for EUR futures markets, open interest receded by more than 1.7K contracts on Wednesday vs. Tuesday’s final 564,233 contracts. On the opposite side, volume increased sharply by more than 101K contracts.

EUR/USD now targets 2018 tops

Yesterday’s price action around EUR/USD saw a continuation of the weekly recovery and has been bolstered by a significant increase in volume. This, plus a somewhat steady activity in open interest opens the door for a potential test of YTD tops in the 1.2540 area in the near term.