THESTOPHUNTER

#Copper #HG on the up this morning on stronger momentum . A turning point (2.9135 Fib 61.8 zone) after recent sell off? Support 2.9135 Fib, then 2.8305? Cur trading 2.9804

$EURGBP welcoming back some #Euro strength again vs the #Pound ? Base around 0.88. Poss upsides 0.8929 then back to highs? Support at 0.8694

Been stuck and bouncing in a tightening 'wedge' range - can it break out to align with stronger seasonals?

Emerging Market currencies: CZK, HUF, RON all showing correlated strength versus the USD. Possibly all about to hit resistance levels - interesting to see how they react and if they can maintain their strength.

Chart of the day: Soybeans The sell grains buy beans trade, might not be as pronounced as normal, with Corn and Wheat looking a bit flat. Soybeans though on the flip side has been putting in some strength over the last week after bouncing off key resistance at 929. Fundamentally looking like its in a better place with stronger exports and help from a strong ...

Amazon Inc building up pressure on the Kagi chart once more to break out of top and to move further north and target the magic 1000 level, then possibly Fibonacci projection at 1300 in the medium term? Strong technical downside support at 850?

The Australian Dollar has been giving back strength since mid March'17 as commodity prices have disappointed and major business partners like China have shown a lesser appetite for Australian products and resources. In the longer term momentum looks weak with the possibility of price now it looks to have broken some key Fibonacci / resistance levels possibly ...

Coffee Arabica: Expected price volatility around bad weather conditions are currently balancing the potential massive crop coming out of Brazil for next year. A head and shoulders pattern has formed and would have a possible longer term target price of 89. Price may find short term resistance at 126 then 118. Upside support may be found at 136 then 143.

GBP putting in some strength over March / April - could this be signs of things to come? Really needs to break out of the 1.20 / 1.29 range and hold above current levels if it is going to push any higher. There's enough fundamental events in 2017 to give it that kick it needs though. Possible upside targets in the shorter/medium term: 1.37 then 1.44 and if it can ...

Taiwan Dollar is maintaining its strength versus the US Dollar since the beginning of 2017 and holds the longer term bearish trend. A head and shoulders pattern has formed on the weekly chart but is as yet complete. The 30 level could prove significant resistance and if it can break here, then 28/29 could be a potential further resistance level. Upside support may ...

Still a lot of geopolitical uncertainty about and who knows what result the upcoming French elections may bring. All of which may favour further Gold bullishness. Currently though, looking a bit toppy at current levels and could be good for a move back to the key psychological level of $1250 in the shorter term? Upside resistance $1300 area, downside $1250 then ...

Since Theresa May announced the snap election the FTSE 100 has taken a turn south. Is this the start of a more significant correction? Sentiment has been hanging on the chance to drive it further down for a more serious sell off, but the bulls have been hanging in there. We’ve seen a similar picture across the globe in the major indices and made trading ...

Fundamentals around Copper, Steel rebar, Iron ore, Coal not looking so rosy currently. Technically Copper HG looking weak. Dec'16 lows could be next resistance at 2.4785 (Approx LME 5500), a further significant break here could see 38.2% Fib area tested (2.3425) then Nov lows of 2.09. Support may be found at 2.5935.

Amazon, Facebook looking the best of the FANGS currently. Can AMZN break recent record highs in early 900's and push to 1000? Longer term correction support found at late 700's?

Chart of the day: USDJPY. Safe-haven buying kicked in heavily Tuesday, also giving a boost to other local Asian currencies. Geopolitical unrest levels have risen substantially over the last few weeks: Syria, N.Korea, Russia and this has led to a move to buy those 'safer' assets. Gold, Yen all should benefit from the uncertainty. On the Kagi chart the Yen is now ...