Eoin Treacy's view

Cocoa is accelerating lower on better growing conditions in Western Africa. A clear upward dynamic is going to be required to check momentum beyond a brief pause. 

Robusta Coffee has been rallying in a persistent manner since February but is now somewhat overextended relative to trend mean as it tests the five-year highs near $2200. Nevertheless, a break below $2150 would be required to check the medium-term advance. 

Japanese Yen per 1 US Dollar – the Dollar continues to build support above ¥100 and firmed today following last week’s decline. A sustained move above the trend mean, currently near ¥106.65, would confirm a return to demand dominance beyond short-term steadying. 

Euro per 1 US Dollar - the Dollar posted a large upside key day reversal against the Euro today and from the region of the 200-day MA. A sustained move below €0.90 would be required to question potential for additional upside. 

The Euro Stoxx Index has been ranging mostly between 320 and 335 since early August and bounced today from the lower side. Some additional firming is likely, provided the Euro continues to decline, but a sustained move above 335 will be required to confirm a return to medium-term demand dominance.