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Long

Looking at topping formation in USD/BRL, Coffee seems to explode

ICEUS:KCN2019   COFFEE FUTURES (JUL 2019)
While USD/BRL short term indicators giving clear signal of correction to downside, Coffee touches its horizontal support. Trading at dirt cheap price and taking support, price seems to explode upside for quick trade opportunity. Brazilian real seems to get strength after falling as low as 4.12 against USD yesterday, which will push coffee prices up. Technically areas to watch are 91.20 & 94. Near 91.20, 20sma coincide with daily kijunsen giving tough resistance since many days. once crossed focus will shift 94 to 95 region(horizontal resistance confluence with 50sma) .
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