There is just one to take note of on the board for the day, as highlighted in bold below.
That being for EUR/USD at the 1.1800 level. Similar to the day before, this isn’t one that ties too closely to any technical significance. However, we are seeing price action weave in and around the figure level in the past few days and so the expiries will provide another magnet to keep things more sticky until we get to US trading.
If anything, just be wary that the 100-hour moving average is also narrowing in at 1.1808 currently. So, that will help to limit some topside momentum in case of any price extensions in the session ahead. However, push above that and it can free up some scope for price action to keep above 1.1800 more comfortably before the weekend.
Besides that, expect trading sentiment to be more tied to the broader market mood. Things are looking fairly nervous after the big moves yesterday and also another round of sharp selling in silver earlier today, as well as in Bitcoin.
There is a bit of a light breather as we see a bounce back from the lows but it doesn’t take away from the tense and edgy mood overall.
For more information on how to use this data, you may refer to this post here.
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