EUR futures: rally shows no exhaustion

CME Group’s preliminary data for EUR futures on Thursday showed open interest rose by almost 9K contracts from Wednesday’s final 446,276 contracts. In addition, volume increased by a shocking 199K contracts.

EUR/USD now looks to 1.1713

The rally in EUR/USD stays at full strength so far, quickly leaving behind 2016 tops at 1.1616 on Thursday following the ECB event and Trump-related headlines in the US. The up move appears everything but unabated for the time being, as confirmed by increases in both open interest and volume. The next relevant target now emerges at 1.1713, August 2016 tops.