Video

John J Hardy
Saxo Bank’s head of FX strategy John Hardy takes a closer look at trends and moves in today’s forex charts, including EURUSD, USDJPY, AUDUSD, and EURSEK.
Squawk / 02 November 2016 at 1:27 GMT
COFFEENYCont targeting $1.56 as long as below $1.63...time has said the past week-end was important, a reaction is in place and on schedule for a larger correction.
3y
peter peter
Pls. will you comment action on coffee today?
3y
ITnerd ITnerd
Yes, please can you comment. Cos it's looks like jumbo bambo afair. I googled a sc cofffee traiders forum that actively participate in this trade. A domain without an owner where it some traiders openly discussing profits and docs thats has nothing to do with official publications.. Thanks in advance. Professional IT nerd.
3y
Johan Berntorp Johan Berntorp
COFFEENYCont had a good day today, trying to take out and challenging the past week-ends highs. It appears as though the price of Coffee is about to negate the bearish time cycles, however this doesn't mean it will rush higher in fierce manor. It might give us the signal but drop from then on before the next real advance starts. From a bullish perspective we'd like to see a clear daily close above those past highs which is a signal for higher prices into December 7. For a outright buying spree the price of COFFEE will have to take out the Gann fan on which is currenlty testing from below. Nonetheless my longer price target is at least $1.83 before a potential larger trend reversal.

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