The EURUSD is edging higher after the post-FOMC surge, but will likely see healthy profittaking by the weekend back to below the psychologically key 1.10 whole figure level. The EURUSD’s massive rally since making its major bottom in September 2022 is due for a notable pullback going into next week with the weekly chart ascending wedge near complete…
Arabica Coffee (KC) slid more than 3% yesterday, producing the first red daily candle in 14 days. Odds are elevated for the healthy profittaking to deepen before the weekend with the rejection yesterday at the 38.2% Fib retrace of the February to January slide, and descending wedge resistance (on the weekly chart)…
Natural Gas (NG) is trying to bounce off this week’s fresh 2023 low near downchannel support (on the weekly chart). With NG arguably breaking above descending wedge resistance (on the daily chart), odds are elevated following Thursday’s highly anticipated weekly storage data for a break above downchannel resistance (on the 4hr chart) and a daily close above the psychologically key 3 whole figure level…
Arabica Coffee (KC) surged a massive 6.5% plus yesterday, gaining for a 13th straight day. Odds are elevated for some healthy profittaking to kick in before the weekend as KC bumps up against the 38.2% Fib retrace of the February to January slide…
