EUR futures: scope for further recovery

In light of preliminary figures for EUR futures markets, investors added more than 7.3K contracts on Friday from Thursday’s final 492,003 contracts. In the same line, volume increased by around 10K contracts.

EUR/USD could target 1.1790

The recent recovery in EUR/USD has been on the back of rising both open interest and volume, a bullish scenario that could motivate spot to attempt a move to recent peaks in the 1.1790 region. Gains beyond this point appear unlikely, however, as the Fed-ECB policy divergence and the USD carry appeal remain poised to favour the buck.