EUR futures: squeeze higher has further legs

In light of advanced data for EUR future markets from CME Group, investors added around 21.2K contracts to their open interest positions at the beginning of the week from Friday’s final 538,702 contracts, reverting the previous drop. In the same direction, volume increased by around 46.4K contracts.

EUR/USD now targets 1.1300

Rising open interest and volume coupled with higher prices is a bullish sign that could allow for the continuation of the correction lower in EUR/USD in the near term, with initial target at the 21-day SMA in the 1.1310 zone.