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Price broke through recent support with last week's CFTC report showing commecials still short. This weeks report shows that the commercials have used the speculator selling to have a massive buying spree to levels that started the last swing to 0.15 (16% upside from here)
Don't take this as trading advice, just committing my thoughts to e-paper!
Price currently at weekly resistance 114.5 (Since May '17) Next resistance at 115.5, stop just above that (115.6)
Price touching downtrend resistance line (since June '17)
Volatility (Bollinger Band width) at low values usually seen preceeding large moves (sell off in ...
Price action becoming bullish, though this could be a shorter counter-trend reaction.
The commitments of traders shows the commercials being long sugar at the highest level in 25 years with large speculators conversely being equally short, a setup for a reversal.
Now in demand zone of 12 month+ range. Go long above Friday's open for bullish momentum confirmation. Stop just below Friday's low.
While EURUSD is in an uptrend, shorter term it is due a reversion to the mean around 1.16. Other comments on chart