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 / 28 October 2016 at 11:55 GMT
Updated chart on COFFEENYCont that is moving higher into its calculated cycle date on Monday next week. The trend is up until proven otherwise and higher prices beyond Monday would be indicative of further appreciation in price into December 8. The positive for bulls is that we haven't yet achieved a relevant longer term price pivot, which however doesn't rule out a correction. Price action above the third fann from (bottom down) could see price accelerate to the upside...
3y
ITnerd ITnerd
in accordance to wether forecast the coffee production in Brasi lis not affected as much as predicted earlier... Will prices go down or the panic will still role and coffee will continue boolish trend? do you have any idea regrading price pivot?
3y
ITnerd ITnerd
Hej Johan, tycker at det skulle vært trevlig om du svarte på min fråga:) Handler priser om bare finans parametrer eller andre forhold som politik, vædret etc. Frågar ettersom ville gjerne førstå och læra hur marknad fungerar.
3y
Johan Berntorp Johan Berntorp
Ofcourse! Well, there are a lot of opinions of what affect the markets. I have a technical approach containing cycle analysis, elliott waves and price pivots. Today/yesterday we have a time cycle hitting Coffee that might or have a chance to end the bullish trend off the January lows. So some caution is currently warranted if the market starts to go lower from here. However, for a perfect top we have other parameters that should be full filled as well. They aren't. Ideally the price of Coffee analyzed in the chart above should reach at least 2.11 or 1.83 before reversing...

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