FX option expiries for 27 February 10am New York cut

There are a couple to take note of on the day, as highlighted in bold.

The first ones are for EUR/USD at the 1.0450 and 1.0475 levels. Price action is caught in between that and things are a bit tricky for EUR/USD now after the failed attempts to firmly break above the 1.0500 mark.

The weekly lows are seen around 1.0450, so buyers might work with the expiries to keep a hold of that. However, the near-term bias has shifted to be more bearish again on a drop below the key hourly moving averages at 1.0472-85. And with the failure to break 1.0500, sellers will feel comfortable in keeping some light downside pressure barring any major dollar fallout going into month-end.

Then, there is one for USD/JPY at the 150.00 level. I don’t quite see that coming into play all too much though. The 100-hour moving average, now seen at 149.50, is keeping any upside momentum at bay. Meanwhile, the January low of 148.63 is helping to lock any downside momentum in the bigger picture. So, those two are still the more critical levels to watch out for on the week.

And lastly, there is one for USD/CAD at the 1.4350 level. The pair has been on a upwards streak all through this week and the expiries are not coinciding with any technical levels. So, besides being just a slight magnet in European trading, it will not matter all too much in terms of impact today.

For more information on how to use this data, you may refer to this post here.

This article was written by Justin Low at www.forexlive.com.