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FX option expiries for 11 June 10am New York cut
There are a couple to take note of on the day, as highlighted in bold.
The first one being for EUR/USD at the 1.1400 level once more. The expiries are likely to keep price action more limited in the session ahead, cantered around the figure level with the 200-hour moving average at 1.1404 helping to also limit downside movement in the pair. There is some minor support around 1.1380 as well from the recent lows since Friday. All of that should keep things more muted before we get to the US CPI report or until Trump makes a big deal of the US-China meeting this week.
Then, there is one for USD/JPY at the 145.00 level. It isn’t one that ties to any technical significance but keep in mind that the pair has struggled to firmly break the figure level on the daily chart in the past two weeks. As such, the 145.00 mark is an important resistance region and the expiries will just reinforce that before rolling off later today. That as traders are bracing themselves for inflation data from the US and more trade headlines to follow of course.
BTCUSD
Bitcoin came close to resistance at 110.800 but stayed short of it.
Now it is most important for Supports to hold if we want to see it any higher and soon.
Supports: 108.350, 108.000 & 106.200
Right now BTC is probing lower, but if this wave finds a footing just above 109.000, that might turn North fairly quick.
Do not be naive trying to figure out the top of BTC – you might end up with an un existing margin 🙂
OIl market is getting jerked around by Iran-US nuclear talks headlines
Iran
Trump
XTIUSD (WTI) 4 HOUR CHART
XAUUSD
Momentum: Trying to build momentum to the upside but so far consolidating within 3300-50.
On the upside, a firm break of 3350 needed to expose 3368=75… double top around 3349.
On the downside, a move below 3293-3301 would negate the upside risk. Lee[s a bid while above it. Minor supports 3327, 3315.
XAUUSD 1 HOUR CHART
Using my platform as a HEATMAP shows
… little reaction to the end of US-China trade talks with the dollar trading mixed
EURUSD so far not extending its 7 day streak trading around 1.14 (low 1.1405)
USDJPY has printed 145 on 3 out of the past 4 days (except Monday high at 144.95)
Gold is up
US stocks are steady
US bond yields are up slightly (10 year still just below 4.50%)
Little fallout in markets so far from spreading immigration protests in the U.S.
Key focus today, U.S. CPI
NIO Inc.
If you expected a comment like : same S… different day – well WRONG
From what we have in front of us – Bullish pattern in creation – and after all the disappointments with Nio, this time it looks real…
We need another day – tomorrow, for Nio to confirm or deny , but possibility of attacking that declination trend line at 3.95-4.00 is resurfacing.
So we sit and wait to see….
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