The financial world is buzzing with anticipation as a significant event approaches, one that could shake up the markets! FX option expiries are due on February 13th at 10 am New York time, and here's what you need to know:
A single, yet substantial FX option expiry is set for the EUR/USD pair at the 1.1850 level. This is a crucial point as it aligns closely with the 200-hour moving average of 1.1846. But here's where it gets interesting: this expiry could act as a price anchor, preventing a significant drop in the upcoming session. Imagine a buoy keeping the market afloat!
And there's more. This particular expiry might also attract attention, serving as a magnet for price action. Why? Well, it's been a crucial level for buyers after the non-farm payrolls dip. So, this double-whammy of factors could lock in the EUR/USD price action during European trading, unless some unexpected news headlines steal the show.
But wait, there's a twist! The US CPI report, due later that day, could be a game-changer. And let's not forget the USD/JPY pair, with some notable expiries, but their impact might be muted given the current spot price.
Mark your calendars for a quiet Monday, as the US holiday will extend the weekend for stocks and the bond market. A peaceful break after the inflation data frenzy!
For those eager to dive deeper, a wealth of knowledge awaits at the provided link, offering insights into leveraging this data in your trading strategies.
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