Jugok Trade

Copper prices (CME COMEX: HG futures) are likely to drop significantly. Supports could be the level of 2.2 and 2.0.

Copper prices had risen a lot from the end of 2016 to the end of 2017. I do not think there was any reason for the copper to rise that much. If I am right, the prices of copper will go down below 2.0, maybe to 1.5. If the copper prices go up with any reason, it will be a good opportunity to sell.

There are many opinions about copper. However, they do not seem to offer a valid reason for the price of copper to rise.

[Copper futures prices monthly chart]

Will the Canadian Dollar (CAD) be strong or weak against US dollar from now on? Many people say that US dollar will and should be collapsed. I agree, but the point is WHEN. In my opinion, US dollar will be strong against other currencies for some years.

CAD/USD (CAD to USD) rate is likely to go down in the long term. 0.7 and 0.665 could be supports. They may fluctuate at the level of 0.7. In the end, they will fall to 0.665. Of course, it can take a lot time.

Even though the prices of Gold and Crude oil are strong, I guess, CAD/USD rate will go down. CAD/USD does not seem to have any level of strong supports. If they go up for some reason, it will be good opportunities to sell.

[CAD/USD rate monthly chart]

Brazilian Real (USD/BRL) is crossing a very important level of 4.0. This could be a signal showing USD/BRL rate will go higher. The long-term target could be 5.57 or so. Two meaningful prices are 3.85 and 3.58. If the rate falls below 3.85, It would be better to buy USD/BRL.

I do not know what is going on there and why USDBRL is going up. However, the rising rate tells something important is happening there. It would be wise to prepare for such a situation in advance.

In my opinion, US dollar is likely to be strong against any other currencies for some years. Many people say the US dollar will be collapsed. I agree in the long-run, but not yet.

[ USD / BRL rate monthly chart ]

Norwegian Krone attracts trader's attention. USD/NOK rate is breaking through a very meaningful level of 9.0. This could be a signal that USD/NOK will go higher in the long run. In that cast, the rate could go up to 11.54 or so.

The level of 9.8 could be a resistance, however, it is unlikely to be a big problem. I do not know what is going on there. What I can say is there seems to be someting and  people should be careful. USD/SEK and USD/DKK will follow USD/NOK.

[ USD/NOK rate monthly chart ]