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FXE (EUR) Signal - Feb. 11, 2013

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.

The Euro had a huge rally the last couple of days, which was a natural result of the devaluation process that is going on in Japan, the UK, and the USA.

There are still some major issues that play along that in my opinion will cause the Euro to go down in the short-term:

- Italian and Spanish bonds fell because of a possible bailout for Cyprus and Greece is still at risk
- Italian election is around the corner on the 24th/25th of February
- Spain is still vulnerable with a + 24% unemployment rate

Al these issues will create pressure on the Euro, which in the short term could cause the ECB to react.

The trade that I'm setting up:

Trade: FXE
Position: 133/129 Bear Put Spread
Cost: $1.05
Risk: $105 per 1 lot
Reward: $295 per 1 lot

fxe


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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