TradingView
NaughtyPines
Feb 4, 2016 4:04 PM

EURUSD -- LONG TERM HORIZONTAL SUPPORT AT 1.1425-1.1500-ISH Short

Euro Fx/U.S. DollarFXCM

Description

Unfortunately for me I guess, I don't trade spot forex anymore, but I do keep an eye on the majors, particularly EURUSD, because I can trade that using options via FXE, the EURUSD proxy.

I have traded FXE a total of five times this year, but it's always been about selling into strength; given Fed tightening and ECB easing, it's always been short with short call credit spreads in FXE when above EURUSD 1.14-ish.

Were I to still be trading forex, I would look to initiate short positions between 1.1425 and 1.1500, targeting 1.10 to the downside ... .

More