Euro Futures Support
According to the latest sentiment analysis data open source, the bullish sentiment on the Euro remains strong. The data shows that the number of short traders are more than long traders which mostly leads for furher upmove.
Option Trades Sentiment
Option trades sentiment is another important factor to consider when making trading decisions for us. Based on the latest option trade analysis data from CME exchange, option trades data on the Euro is also bullish. The baseline is that naked puts can be easily convert in to syntetic long positions.
Options traders commonly use this technique due to the leverage effect in options trading. Buying activity at this level can have a significant impact.
However, the presence of strong support does not guarantee that quotes will head towards this level. Growth may continue without a break.
Option Trades Sentiment
Option trades sentiment is another important factor to consider when making trading decisions for us. Based on the latest option trade analysis data from CME exchange, option trades data on the Euro is also bullish. The baseline is that naked puts can be easily convert in to syntetic long positions.
Options traders commonly use this technique due to the leverage effect in options trading. Buying activity at this level can have a significant impact.
However, the presence of strong support does not guarantee that quotes will head towards this level. Growth may continue without a break.
Note
The pair dropped near the support level that was found on the 8th of March. Analyzing the option portfolios of CME participants, we can say that they (participants) are still considering the possibility of buying futures at the current level, which will lead to the mentioned support.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.