{"id":109662,"date":"2017-07-26T09:45:44","date_gmt":"2017-07-26T13:45:44","guid":{"rendered":"http:\/\/countingpips.com\/?p=109662"},"modified":"2017-07-26T07:07:37","modified_gmt":"2017-07-26T11:07:37","slug":"orange-prices-technical-analysis-the-orange-juice-reserves-reduced-in-the-us","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2017\/07\/orange-prices-technical-analysis-the-orange-juice-reserves-reduced-in-the-us\/","title":{"rendered":"Orange Prices: Technical Analysis – The orange juice reserves reduced in the US"},"content":{"rendered":"
July 26, 2017<\/div>
\r\n<\/div><\/div>

By IFCMarkets<\/a><\/p>\n

The orange juice reserves reduced in the US<\/strong><\/p>\n

The US Department of Agriculture (USDA) reported a decrease in orange juice<\/a> reserves. Will its prices grow?<\/p>\n

The frozen orange juice reserves decreased to 544.4 mln pounds for June 30, 2017, compared with the reduction of 575.4 mln or by 5.4% for May 31, 2017. Compared with the beginning of July of the last year, they declined by 29%. The export of orange juice from Brazil decreased by 17% from July 2016 to June 2017 compared to the same period of the last year and amounted to 890 thousand tonnes. This is the lowest volume for the last 25 years.<\/p>\n

\"ORANGE\"<\/p>\n

On the daily timeframe, ORANGE: D1<\/b> approached the resistance line of the downtrend. To open a Buy position, it needs to be overcome. The further price increase is possible in case of a further reduction of the orange juice reserves in the US and the decrease of the citrus fruit crop in Brazil.<\/p>\n