Currency Market: EUR/USD vital levels and Best Buy stock
|EUR/USD vital levels are presently located at 1.1442, 1.1650, 1.1716, 1.1865, 1.2031, 1.2038 and 1.2052.
Above 1.2052 then 1.2119, 1.2186, 1.2253, 1.2321, 1.2456, 1.2591.
See a 1.2600 target? As EUR/USD drops further then the MA lines drop so 1.2591 will travel lower.
Note 1.2052. At week's beginning, 1.2052 was 1.2073. This is the main line driving EUR/USD's price. I suspect this line will drop below 1.2038 and 1.2031 to form a line at 1.1900's around 1.1948 so the middle 1.1950's will become solid resistance against 2 MA lines.
Current EUR/USD either from 1.2073 or present 1.2052 is massively oversold and targets easily 1.2002 however caution exists at 1.1950's.
Best Buy
May 24 was posted a trade recommendation to Best Buy Stock. Long Best Buy lows at 114.35 and highs at 115.51.
Best Buy achieved highs at 118.35 on higher and expected earnings. As suggested against a high PE ratio at 16.80 was short from 118.35. Lows achieved 107.63 last Thursday for +11 points. Best Buy PE is now 12.74 and ready to travel higher. A good target is 110.41.
I was a stock trader long before I ever considered currencies.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.