In light of advanced figures for EUR futures markets from CME Group, investors added nearly 3.1K contracts to their open interest positions on Thursday from Wednesday’s final 507,809 contracts. On the other hand, volume went significantly down by more than 104K contracts after two consecutive daily builds.
EUR/USD unlikely to test 1.1718 for now
EUR/USD closed yesterday’s session below the 1.1800 handle amidst higher open interest and a sharp drop in volume, hinting at the likeliness of a squeeze higher in the near term and at the same time removing some tailwinds from a potential test of 1.1718, December lows.
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