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  4. FXE Signal - Oct. 22, 2012
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FXE Signal - Oct. 22, 2012

By Andrew Keene
Andrew Keene
By Andrew Keene
Andrew Keene spent 10 years as an independent equity options trader on the Chicago Board of Options Exchange, during which he spent the majority of his time as a market-maker for over 125 stocks. Andrew currently trades futures, currencies and commodities. When he's not trading, Andrew appears on top business television shows including CNBC's Squawk on the Street, Street Smart on Bloomberg TV and First Business, a show that is syndicated across the United States. Andrew graduated from the University of Illinois with a degree in Finance with a concentration in Accountancy.

By: DailyForex.com

The ETF FXE seeks to track or reflect the price of the Euro, net of trust expenses. The strength of the Euro reflects the desire of foreign consumers and investors to hold Euros or to buy European products.

The strength of the Euro has relied on the integrity of the stronger economies in Europe. With concerns about overwhelming debt in some European countries, the Euro may lose strength in the future.

The ETF is currently sitting at 129.81 closer to its 52- week high of 141.92, with a low of 119.74. FXE is currently above its daily 50, 100, and 200 day moving averages, however, it looks to be a bounce off of the low. I think it will consolidate around its current price and be lower into the end of the year.

My Trade: Buying the FXE Dec 29-28 bear put spread for $0.37

My risk: $35 per one lot

My reward: $65 per one lot

My break even: 28.65

Andrew Keene
About Andrew Keene
Andrew Keene spent 10 years as an independent equity options trader on the Chicago Board of Options Exchange, during which he spent the majority of his time as a market-maker for over 125 stocks. Andrew currently trades futures, currencies and commodities. When he's not trading, Andrew appears on top business television shows including CNBC's Squawk on the Street, Street Smart on Bloomberg TV and First Business, a show that is syndicated across the United States. Andrew graduated from the University of Illinois with a degree in Finance with a concentration in Accountancy.
 

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