EUR futures: up trend poised to continue

According to advanced data from CME Group on EUR futures markets, open interest rose by nearly 7.9K contracts on Wednesday vs. Tuesday’s final reading at 457,254 contracts. In addition, volume reversed the previous drop and increased by almost 49K contracts.

EUR/USD next target 1.20?

There is no change in the EUR/USD perspective for the time being. The rally stays well and sound, while the likeliness of a potential visit to the psychological 1.2000 handle still well in place. Rising open interest in combination with higher prices and volume reinforce the bullish outlook on the pair.