EUR/USD 1 HR CHART (05/07/2023 – 10/07/2023)
- At the time of writing, the EUR/USD is trading around 1.09546, accompanied by minimal trading volume
- While the bullish momentum has cooled off since Friday's rally, it continues to exhibit strength, potentially supporting further upside movement. However, it is likely that long traders are now booking profits, leading to the cooling off of the momentum therefore, a retracement is to be expected
- Taking into account the observed price action, it is plausible to consider 1.0932 as a potential support level that the EUR/USD might retrace towards
EUR/USD FX Option Strike Expiry Levels 10/07/2023 – 14/07/2023
- This trading week (10/07/2023 – 14/07/2023), there is a significant concentration of EUR/USD strikes between 1.0780-1.1000, totalling over 30 billion euros.
- ?A little over 10% of those (3.47 Billion Euros ) are expiring on Friday (14/07/2023) between the strike prices of 1.0940 - 1.1000. This suggests potential price volatility or increased trading activity around those levels as the options approach expiration, leading to potential price reactions or consolidation around those strike prices.
Disclaimer: All above is for informational and/or educational purposes only and under no circumstance should be considered as financial and/or investment advice to buy, sell or hold any asset or financial instrument.
