Raghee’s Setup on FXE 9/5/17
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Raghee's Setup on FXE 9/5/17

Raghee Horner

FXE:

This Thursday we have the ECB, so the Euro is in play. I am looking to buy a pullback to get long again.

The FXE levels I am watching are 114.35 for an aggressive long position and 113.25 for a conservative long position off the daily chart.

I will straight up buy Sep 122 ITM calls that will take me through the ECB meeting as well as the Sep 20 FOMC meeting. This gives me plenty of time and lets me take advantage of a more dovish tone from Yellen on the 20th ... which will send the Euro higher.

The idea is that Mario Draghi may talk the Euro down during that meeting.

I am playing the FXE, however, and I'll walk you through the forex and futures set up as well.