Arabica Coffee (KC) Weekly MACD Trying to Positively Cross

Arabica Coffee (KC) bounced more than 1% yesterday, and suddenly appears to be in the advanced stages of consolidating near upchannel resistance (on the 4hr chart). Any weekly close above the 61.8% Fib retrace of the slide from the February high to the May low will likely coincide with a retest of the June high, and dramatically increase odds of resuming the upchannel (on the weekly chart) in the week after…

VIX (VX) Tries Bouncing Off May Low

The VIX (VX) is beginning to form a weekly Hammer, holding the higher May low versus the April low, and reinforcing the uptrend (as seen by the higher May high versus the April high). Any break above downchannel resistance (on the 4hr chart) would dramatically increase the likelihood of retesting the 61.8% Fib retrace of the April to May bounce in the few days after…

Arabica Coffee (KC) Bull Flag Consolidation Since Mid Feb Completing

Arabica Coffee (KC) formed a daily Doji yesterday, hesitating in its strong 3 week plus rally as it tests upchannel resistance (on the 4hr chart). Significantly, KC’s upchannel extension (on the weekly chart) remains above the April high, but is likely to continue consolidating going into early next week before the rally can extend from the current 61.8% Fib retrace of the slide from the February high to the May low…

EURUSD Rejected @ Weekly Chart Downchannel Resistance

The EURUSD has broken the daily chart triangle/uptrend support, and is increasingly vulnerable to a retest of the psychologically key 1.05 whole figure level by early next week. Nevertheless, the EURUSD does not appear likely to retest the May low / 2017 low (as can be seen on tradingview.com) in June, with odds higher for a weekly close above the 38.2% Fib retrace of the February to May downtrend extension in the same period…