EUR Futures: Rally has further legs to go

Open interest in EUR futures markets increased markedly by around 29.9K contracts on Thursday according to preliminary readings from CME Group. In the same line, volume reversed two consecutive drops and rose by nearly 31.3K contracts.

EUR/USD now targets 1.1250

The upside momentum in EUR/USD is expected to persist in the very near-term helped by rising open interest and volume. That said, the next target of relevance is now at 1.1248, the August’s 2019 top.