Get started
SkylinePro

USDBRL - possible minor correction to 5.2 before last leg down

U.S. Dollar / Brazilian Real (FX_IDC:USDBRL)  
SkylinePro Updated   
FX_IDC:USDBRL   U.S. Dollar / Brazilian Real
Trend Analysis Wave Analysis Technical Indicators USDBRL brazilianreal brazil brasil Currencies currency fx
4
0
trendanalysis waveanalysis indicator usdbrl brazilianreal brazil brasil currencies currency fx
As predicted in the post of May 26, USDBRL reached a level a few points below the target for the correction. Now USDBRL is tracing minor wave A down and it is currently at the beginning of minute 4 up that could reach levels around 5.20. After this the currency pair should enter in the last leg down to complete wave A (our current target for this is at R$4.87) When wave A finishes, wave B should elevate USDBRL to the range between 5.42 to 5.55 before it continues its trend down again. FOLLOW SKYLINEPRO TO GET UPDATES.
Trade closed: target reached:
The currency pair reached some points below the forecasted target and the trend (counter-trend) inverted as predicted. See updated post.
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.