Looking for 130 area as a target of the recent decline in coffee prices. Overall uptrend as indicated in upsloping orange trendline hasn't been broken yet Spreads are weak as well.
Turned from bullish to neutral as I got out or rolled most of the position. The late sell of at the end of the day confirmed my thoughts. Future Spreads are still firm, and on a weekly timeframe we still look quite bullish. USDBRL has come off from the highs, but is running into a little support. Prices could advance, but there is too much uncertainty, hence...
When something is unclear up close, it is often more attainable from a broader perspective. Rarely do traders look at the big picture when evaluating a trend. What people dont know about the DXY is that it has travelled to much higher price ranges than its current treading grounds. When we look at a large time scale, we see that the recent USD rally is a lot less...