Coffee Traders Forum
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Posted by Tango
on May 31, 2019, 9:31 am
Both markets are showing short covering and long liquidation. KC shows good trading out to March22. Today weakness consumed the market as 8:00 came but the Real firmed as coffee hit the lows. There was lots of pressure but the buying persisted. Most funds are robotic and only respond to momentum and price level, and so continued buying. The market, imo, is saying that it is not ready to return to the downside. USDBRL is 3.9596 -0.022 (-0.5525%) and USDCOP is 3,376.8701 +13.89 (+0.41%). USDMXN is now 19.7655 +0.6305 (+3.30%).