EUR futures: probable squeeze higher

CME Group’s preliminary data for EUR futures markets saw open interest rising by more than 2.5K contracts on Friday vs. Thursday’s 495,359 contracts. Volume followed suit, up by almost 15.5K contracts.

EUR/USD strong support emerged at 1.2215

Friday’s strong rebound in EUR/USD in the wake of US Non-farm Payrolls has been on the back of rising both open interest and volume, allowing for a potential rebound higher and showing strong contention in the 1.2215 area.