EURUSD awaits the US jobs report

Technical Analysis

Trades at the 100 day MA waiting for the shove

As the US jobs report lies ahead, the EURUSD has positioned itself right at the 100 day MA.  What a neutral level to place itself. The 100 day MA is at 1.12717.  Also to consider today is that there a bunch of option expires this morning (10 AM ET) between 1.1200 and 1.1325.

  • 1.1200,  2.7B
  • 1.1250, 825M
  • 1.1260, 800M
  • 1.1275, 1.8B
  • 1.1300, 911M
  • 1.1315, 766M
  • 1.1325 592M

That’s a good amount.  What does that mean?  Well traders could look to confine the price action.  If the number is a big surprise, however, and there is a big move, those option players offsides, could be forced to put on hedges to balance the options risk.   Be on your toes.

Technically, on the downside today the low stalled at the 100 hour MA. A move below that level will be more bearish with the 200 hour MA down at 1.1201. 

ON the topside, a move above the 100 day MA at 1.12717, the 1.1305 level is home to trend line on the daily chart. That trend line stalled the rally yesterday. Moving above would open the upside for more momentum higher. 

EURUSD on the dailly

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