EUR Futures: further upside on the table
|Open interest in EUR futures markets increased for the second consecutive session on Thursday, this time by around 13.2K contracts according to advanced data from CME Group. Volume, instead, shrunk by around 79.3K contracts, reversing the previous build.
EUR/USD posed to challenge 1.1170/80
EUR/USD managed to close Thursday’s session just above the 1.11 handle amidst rising open interest, hinting at the likeliness that extra gains remain in the pipeline in the near-term. That said, the 1.1160/80 band – where converge October/November tops and the 200-day SMA – has now emerged on the horizon. The recent decline in volume, however, carries the potential to slow the pace of the bull run or spark some consolidation around current levels.
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