EUR futures: gearing up for 1.2000?

CME Group’s preliminary data for EUR futures markets showed open interest rose by almost 10.3K contracts on Friday vs. Thursday’s final 462,937 contracts. Volume increased significantly by more than 136.2K contracts.

EUR/USD now targets 1.2000

Last Friday’s up move in EUR/USD to fresh YTD tops well above 1.1900 the figure has seen some follow through today to the 1.1960 region, albeit losing some momentum afterwards.

The up tick above 1.1900 reinforces the idea that the potential visit to the psychological handle at 1.2000 is in the offing. This view appears reinforced by the recent significant build in volume and open interest (rose the most since July 18).