EUR Futures: potential squeeze higher

According to advanced figures for EUR futures markets from CME Group, investors trimmed their open interest positions by around 4.6K contracts on Wednesday. In the same line, volume shrunk for the second session in a row, this time by around 4K contracts.

EUR/USD bottomed out near 1.1270?

EUR/USD declined and appeared to have found some decent support in the 1.1270 region on Wednesday. Declining open interest and volume coupled with lower prices carries the potential to spark a U-turn in the short-term horizon.