EUR futures: uptrend gathers momentum

According to CME Group’s preliminary figures for Wednesday’s open interest in EUR futures markets, traders continued to build up their long positions, this time adding more than 10K contracts vs. Tuesday’s final 400,560 contracts.

Upside has scope to extend further

The current scenario in the EUR futures markets points to an extension of the uptrend, with both price and volume picking up pace and confirming that new buyers continue to flow into the markets, increasing the upside potential.

EUR/USD has quickly left behind the 1.1300 barrier and climbed as high as the 1.1420 region earlier in the Asian trading hours, always boosted by the recent upbeat message from the ECB and renewed rumours of tapering.