EUR futures: squeeze higher likely

According to CME Group’s advanced figures for EUR futures markets, investors added around 2.6K contracts to their open interest positions on Wednesday from Tuesday’s final 529,124 contracts. In the same direction, volume rose by around 20K contracts, recording the second consecutive build.

EUR/USD still targets 1.1745/50

EUR/USD remains bid in the near term, and yesterday’s uptick in volume and open interest allows for a potential extension of the current up move to the 1745/50 band and probably 1.1790 in the short-term horizon.