EUR futures: room for a squeeze higher

According to CME Group’s preliminary figures for EUR futures markets, open interest rose by nearly 4.5K contracts on Thursday while volume increased for the third consecutive session, this time by around 43.4K contracts.

EUR/USD now targets the 1.1260/70 band

Increasing open interest and volume coupled with positive price action should allow EUR/USD to extend the march north for the time being, with immediate target at recent peaks in the 1.1260/70 band.