EUR Futures: room for a squeeze higher

CME Group’s advanced figures for EUR futures markets showed investors kept adding contracts to their open interest positions on Thursday, this time by around 2.5K contracts. In the same direction, volume increased for the second session in a row, now by around 44.6K contracts.

EUR/USD now looks at 1.1130, 10-day SMA

EUR/USD has managed to rebound from YTD lows in the 1.1030/25 band on Thursday and close the day in the positive territory amidst rising open interest and volume. That, coupled with a potential ‘hammer’ candle, could spark some buying pressure in the very near term with immediate target at the 10-day SMA in the 1.1130 area.