EUR futures: squeeze higher not ruled out

In light of advanced figures for EUR futures markets from CME Group, open interest rose by almost 1.6K contracts on Tuesday from Wednesday’s 492,662 contracts. Volume, in the same line, rose significantly by nearly 115K contracts.

EUR/USD supported near 1.2250

The recent daily pullbacks in EUR/USD has been on the back of shrinking volume and open interest, allowing for the chance of a potential bull run which should find interim hurdle in the 1.2330 region ahead of last week’s tops in the 1.2480 area. However, the broader consolidative theme should remain unchanged for the time being.