EUR futures: upside corrective only

According to preliminary figures for EUR futures markets, open interest rose by just 377 contracts on Thursday from Wednesday’s final 506,103 contracts. Volume, instead, dropped by nearly 4K contracts, partially offsetting the previous large build.

EUR/USD now targets 1.1500

EUR/USD is extending the solid rebound after bottoming out in the 1.1300 neighbourhood earlier in the week. Yesterday’s rebound was in tandem with an irrelevant build in open interest and a moderate drop in volume. The upside corrective is expected to remain in place and could extend to the 1.1500 area.