There is just one key expiry level to take note of on the day, as highlighted in bold below.
That being for EUR/USD at the 1.1200 level, which sits less than 10 pips away from the spot price. The expiries could help anchor price action around the figure level into the cut, should there be no major headlines to jolt the pair before we get to the US midterms later.
The pair has been struggling to hold any pushes above 1.1200 in recent days, so the expiries will add another layer for buyers to chew through in order to establish a more convincing upside push.
But all else being equal, we could see price action be more contained closer to the figure level with the expiries acting more as a magnet for the session ahead.
As for overall trading sentiment, the dollar will be a main focus today with the US midterm elections in focus. That alongside the broader risk mood will be key drivers for how traders will react in the day ahead, before we slowly switch back to focus on the upcoming US jobs report on Friday.
For more information on how to use this data, you may refer to this post here and/or refer to the Q&A below.
This article was written by Justin Low at investinglive.com.
