EUR/USD with option expiry levels for 12th November
Just an simple chart with options expiry levels and pivot points with 2 simple moving avg.
Yesterdays rally was impresive yet it was all done on a thin market with USA holidays so I'd not be focused on that move. Also the hourly rejections at 1,25 looks awfull for bulls if You take a look at yesterdays shooting star and current hourly close which is also below 200 MA and shows clear rejection from 1,25 level. On the other hand Asian session rebound from pivot point level (1,2455) and large options expiry at 1,25 level may suggest that the corrective move up is not done yet. The basic scenario would be to look for long entries as long as price is above 1,2445 level .
Yesterdays rally was impresive yet it was all done on a thin market with USA holidays so I'd not be focused on that move. Also the hourly rejections at 1,25 looks awfull for bulls if You take a look at yesterdays shooting star and current hourly close which is also below 200 MA and shows clear rejection from 1,25 level. On the other hand Asian session rebound from pivot point level (1,2455) and large options expiry at 1,25 level may suggest that the corrective move up is not done yet. The basic scenario would be to look for long entries as long as price is above 1,2445 level .