FX Option Expiries at 10am New York Cut: August 1st Update
Today, the focus is on one particular FX option expiry at the 1.0850 level for EUR/USD. This level is significant as it could influence price action, especially with the 200-hour moving average close by at 1.0847. The expiry may act as a magnet for price movement until it expires later in the day. However, it’s important to be cautious of any potential dollar weakness following the recent Fed announcement. It’s worth noting that the market may have already factored in much of the Fed’s decision prior to the meeting.
In addition to the EUR/USD expiry, there is also a substantial one for EUR/GBP at the 0.8420 level. This expiry could contribute to keeping price action subdued, especially given the pair’s trading near the 0.8400 mark throughout the week. The impact of this expiry may linger until the Bank of England’s upcoming meeting.
If you are interested in learning more about how to interpret and utilize this data, you can find additional insights in a related post available here. Stay informed and aware of these key expiries to make informed decisions in the forex market.
