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EUR futures: scope for further upside

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In light of advanced figures for EUR futures markets from CME Group, open interest rose by more than 9.7K contracts on Friday vs. Thursday’s final 556,816 contracts, recording the second consecutive build at the same time. Volume, instead, decreased for the third session in a row, this time by almost 47K contracts.

EUR/USD room for an extension beyond 1.1700

Friday’s rebound in EUR/USD from daily lows has been on the back of rising open interest while volume kept diminishing, removing some tailwinds from the likelihood of extra pullbacks and at the same time allowing the correction to extend above the critical 1.1700 handle.

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