EUR futures: upside hinges on ECB

In light of preliminary figures for EUR futures markets from CME Group, investors added around 3.1K contracts on Wednesday from Tuesday’s final 576,287 contracts. In the same direction, volume rose significantly by almost 78.5K contracts, its second consecutive build.

EUR/USD scope for a test of 1.19/1.20

The upside momentum in EUR/USD remains well and sound so far this week, always sustained by rising speculations over some sort of announcement by the ECB at its meeting next week. The recent uptick has veen on the back of rising open interest and volume, which is indicative of quite a moderate bullish sentiment.