The Brazilian real appears that it lost its recovery momentum

FX_IDC:EURBRL   Euro / Brazilian Real
The Brazilian real appears that it lost its recovery momentum since early June, not just against the euro, but also against other currencies. The EURBRL’s prices have been flirting with a critical resistance, and yesterday, prices bounced off aggressively from that level. However, the pair is widely projected to climb higher and break it, ultimately reaching its higher resistance level in the first half of the month. That should continue to buoy the 50-day moving average against the 200-day moving average, suggesting that the market is still bullish. The Brazilian real is in danger against the euro as bullish investors want to continue their strong performance. In fact, the euro seeks to extend its best run in more than two months against most currencies as it rides on the wave of coronavirus and economic hopes. Bearish investors will have a tough time as more biopharmaceuticals get more positive news from their coronavirus vaccine which helps the euro.

𝐅𝐢𝐧𝐚𝐧𝐜𝐞 𝐁𝐫𝐨𝐤𝐞𝐫𝐚𝐠𝐞 - 𝐒𝐭𝐨𝐜𝐤 𝐌𝐚𝐫𝐤𝐞𝐭, 𝐅𝐨𝐫𝐞𝐱 𝐍𝐞𝐰𝐬 & 𝐅𝐨𝐫𝐞𝐱 𝐁𝐫𝐨𝐤𝐞𝐫𝐬

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