Is it possible to hedge using Forex Options? Zoe Fiddes, Head of Sales at ORE.com comments. Hedging is where you are looking to eliminate or decrease risk on a trade. So there are ways of hedging in currency movements - so if you hold a position in say, EUR/USD but this Friday is non-farm payrolls and you are worried that your stop loss could be hit, you could place a hedge so that over that period of time you cannot lose money from your position