EUR futures: squeeze higher not ruled out

CME Group’s preliminary figures for EUR futures markets showed a significant gain in both open interest and volume by 29.2K contracts and 178.5K contracts, respectively, on Tuesday. Monday’s final figures in open interest came in at 562,718 contracts.

EUR/USD scope for a test of ‘double tops’ near 1.2450

EUR/USD’s uptick on Tuesday has been accompanied by a sharp build in volume and open interest, somewhat neutralizing the continuation of the consolidative theme and at the same time reinforcing the view of a potential squeeze higher to the 1.2445/50 band, recent ‘double tops’.