Recently in January we hit the 52 week high, which stands at 136.03. The 52 week low is at 119.73 which we pinpoint in July of 2012 and therefore technically its more likely we will go lower from here. The political and economical pressure is not promising any good either as Europe finds itself in a sluggish recovery. The BOE, Fed and BOJ implementing measurements that will stimulate the economy through asset purchases that deliberately devalues their currency in order to prop up the GDP. So in order for other currencies to go down another has to appreciate in value, which in this case is the euro. An appreciating euro in combination with a sluggish to flat recovery will keep the ECB awake at night and  at least doubtful whether additional measurements needs to be taken. Also with the FOMC minutes released yesterday signaling an earlier stop or at least a possible reducing standpoint in the additional easing gives reasons enough to see the U.S. dollar appreciating in the near-term, which would cause FXE to visit lower levels.

Sven Van Tongeren
Sven@KeeneOnTheMarket.com

Paper bought 5000 ACAD June 3.5 Puts for $.15 when stock was trading $5.94
Paper bought 900 LINTA March 21 Puts for $.55 (16.2 times usual volume) when stock was trading $21.34
Paper bought 850 MXIM March 31 Puts for $.575 when stock was trading $31.45
Paper bought 560 EBIX June 22 Puts for $5.60 (12.2 times usual volume) when stock was trading $18.17
Paper bought 1500 SFD March 24 Puts for $1.80 (3.2 times usual volume) when stock was trading $22.55

Paper bought 1250 HOGS June 12.5 Calls for $.74 when stock was trading $12.78
Paper bought 504 CNC March 47.5 Calls for $.70 (2.9 times usual volume) when $44.89
Paper bought 2367 ZTS July 30 Calls for $3.85 (6.9 times usual volume) when stock was trading $32.18
Paper bought 1730 ADP April 62.5 Calls for $.35 (2.9 times usual volume) when stock was trading $60.40
Paper bought 750 FDO March 57.5 Calls for $.85 when stock was trading $56.13

Paper bought 20,000 GGB Sep 9-10 Bull Call Spread for $.28 (94.3 times usual volume) when stock was trading $8.10
Paper sold the 5189 BRY April 45 Calls and bought April 40 Puts for $1.10 credit (122 times usual volume) when stock was trading $45.12
Paper bought 1800 P March 12 Straddles for $2.25 (2.0 times usual volume) when stock was $11.62
Paper bought 1000 BID March 38 Calls for $1.35 when stock was trading $37.52
Paper bought 1975 NCT May 12.5 Calls for $.15