EUR futures: decline loses traction for now

CME Group’s preliminary figures for EUR futures markets showed investors added nearly 7K contracts to their open interest positions on Friday from Thursday’s 495,505 contracts. On the other hand, volume dropped by more than 82.6K contracts.

EUR/USD still targets 1.2000

Friday’s uptick in EUR/USD has been on the back of rising open interest albeit volume decreased significantly. That said, a squeeze higher is not ruled out in the near term following the recent sharp sell off, although the case of the visit to the psychological 1.20 area remains well on the cards.