December 03, 2024 at 03:55AM
There is just one to take note of on the day, as highlighted in bold.
That being for EUR/USD at the 1.0500 mark. Given the lack of catalysts in the session ahead, the expiries could act as a bit of a magnet in keeping price action in a stickier spot until we get to US trading at least.
The dollar is looking poised against other major currencies besides the yen to start the week/month, so that is something to keep in mind. But unless there is broad bids in the greenback, EUR/USD may see more limited action as we have seen during Asia trading with price action keeping in between 1.0481 and 1.0502 thus far on the day.
That said, the 200-hour moving average is seen at 1.0509 and with sellers keeping below that, the near-term bias stays more bearish for the time being.
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.
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