Currency Market: EUR/USD vital levels and Best Buy stock

Brian Twomey Brian's Investment

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.

Author

Brian Twomey

Brian's Investment

Brian Twomey is an independent trader and a prolific writer on trading, having authored over sixty articles in Technical Analysis of Stocks & Commodities and Investopedia.

EUR/USD deflates to fresh lows, targets 1.1600

The selling pressure on EUR/USD now gathers extra pace, prompting the pair to hit fresh multi-week lows in the 1.1625-1.1620 band on Friday. The continuation of the downward bias comes in response to further gains in the US Dollar as market participants continue to assess the mixed release of US Nonfarm Payrolls in December.

GBP/USD breaks below 1.3400, challenges the 200-day SMA

GBP/USD remains under heavy fire and retreats for the fourth consecutive day on Friday. Indeed, Cable suffers the strong performance of the Greenback, intensified post-mixed NFP, and trades at shouting distance from its critical 200-day SMA near 1.3380.

Gold flirts with yearly tops around $4,500

Gold keeps its positive bias on Friday, adding to Thursday’s advance and challenging yearly highs in the $4,500 region per troy ounce. The risk-off sentiment favours the yellow metal despite the firmer tone in the Greenback and rising US Treasury yields.