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EUR futures: potential for another squeeze higher

FX Street
Updated:

In light of preliminary figures for EUR futures markets from CME Group, investors added nearly 2.6K contracts to their open interest positions on Thursday from Wednesday’s final 490,608 contracts. Volume followed suit, up around 77.1K contracts.

EUR/USD deeper retracement looks unlikely

Yesterday’s EUR/USD test of the 1.1570 region and subsequent recovery has been on the back of rising both open interest and volume, allowing the potential for a corrective upside. On the downside, the 1.1500 neighbourhood still emerges on the horizon, however, a deeper pullback seems to have lost traction in the very near term.

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