The FX option expiries for today at the 10am New York cut show a couple of key levels to watch for the EUR/USD pair. The 1.0800 and 1.0850 levels are expected to keep the price action confined within this range until the euro area PMI data releases later in the day. If there is a firm break below the 1.0800 level, it could trigger stop-loss orders.
This may lead to further short-term downside movement for the EUR/USD pair. Traders should be aware of this possibility. For today’s trading session, it is important to pay close attention to the mentioned expiries and the upcoming economic data.
These factors may have a significant impact on the market. There is a substantial set of expiries for EUR/USD today, especially at the 1.0600 level. However, due to the recent bullish developments supporting the euro since last Friday, this is not expected to have a major impact.
For USD/JPY, traders should note the key expiry at the 149.00 level.
eur/usd expiries impact market movement
While it does not have any specific technical significance, it may influence market movements and potentially keep things steady during what might be a quieter session in European trading.
It is crucial to monitor the overall risk sentiment. The current market conditions seem somewhat heavy. A downturn in US futures could push USD/JPY lower throughout the day.
Traders should remain cautious and closely watch these indicators. The FX option expiries for 20 March at the 10am New York cut have drawn attention, particularly for EUR/USD at the 1.0900-10 levels. These expiries may influence the price action to stay close to these levels before they roll off later in the day.
The policy decisions from the Swiss National Bank (SNB) and the Bank of England (BOE) will significantly impact the focus in European trading. As a result, there might not be major movements affecting the euro in the early trading session. Furthermore, the overall market sentiment is holding up after a noticeable rebound yesterday.
This could play a role in the session ahead.
