Busch does think the euro could still push higher - but it's a trade for risk takers. Even "for those of you who are just insane and have to jump in to buy euros at these levels," Busch recommends stepping aside and waiting for a pullback. He suggests entering at 1.3025, setting a stop 1.2925 and a target at 1.3325. "If you think that will run away from you," Busch recommends structuring your trade with a one-to-three ratio, setting your stop 100 pips lower than your entry and your target 300 pips above that.
Abigail Doolittle, the founder of Peak Theories Research, likes the trade, but she's edgy. "this thing could still run but you want to be careful," she says. So Doolittle thinks an even tighter stop could work, perhaps at 1.2974.
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