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Where the Euro Goes From Here

AP

Notice anything different about the euro these days? This trader does.

"I think the euro is back to trading based on U.S. fundamentals, and specifically the fiscal situation," says Todd Gordon, co-head of research and trading at Aspen Trading Group. "Right now we can kind of push Europe off to the side."

Gordon says the ups and downs of the political negotiations are impacting the euro-dollar pair. He points to comments by President Obama, House Speaker John Boehner, and Treasury Secretary Tim Geithner as movers for the common currency.

That said, Gordon thinks the euro's overall direction is up.

"I just bought euro literally in my handheld before I sat down," he told CNBC's Simon Hobbs.

Gordon recommends buying the euro against the dollar at 1.3000, setting a stop at 1.2900 and a target of 1.3140.

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