USDBRL forms a pattern which is continuation trend.
After the pair ( USDBRL ) breaking below the baseline of it has been losing upswings momentum completely.
Leading oscillators are also converging to these dips signal to momentum in selling pressures.
Current prices have slid way below DMAs, while MACD's crossover indicates ongoing downtrend to prolong further.
The occurrence of "shooting star" at 4.0093 and "hanging man" pattern at 4.0166 on monthly charts signal more potential as leading & lagging indicators substantiate the pressures.
Contemplating above technical observations, we could foresee more dips in the days to come, the best way to tackle this trend is to remain short in mid-month at every rallies for targets upto 3.1980 levels.
With your analysis in mind, I am confused now. According to my analysis about USDTRY, it has a potential for a strong up move. But your analysis is very clear and indicates a deeper move for USDBRL.
If possible, I would be very happy to hear your comments from my point of view, which depends on these two item's comparisation.
In the meantime, I would like to thank you for your clear studies which you share with us.
Have a nice trading day.
Most importantly, if you plot monthly charts of both these pairs, I hope you may probably reconsider your upward sentiments on USDTRY, for me it's bearish as well.