EUR Futures: Scope for extra upside

Open interest in EUR futures markets rose for the third session in a row on Tuesday, this time by around 3.2K contracts according to preliminary figures from CME Group. Volume, in the same line, increased by more than 20K contracts, reversing the previous drop.

EUR/USD could test 1.0980

EUR/USD extended the recovery to the vicinity of the 1.09 mark on Tuesday. Rising open interest and volume coupled with positive price action note the presence of new buyers returning to the markets. That said, a re-test of the 1.0980 region in the short-term horizon should not be ruled out.