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.
