AndreasMunz

USDBRL awaiting breakout of triangle

FX_IDC:USDBRL   U.S. Dollar / Brazilian Real
Awaiting development in USDBRL             on this symmetrical triangle formation

Most of the time if a triangle like this happens in a trend, the breakout that follows goes with the trend.

Yet, to me, it is wait and see.

Implications on commodities:
- Breakout higher would be bearish for sugar             and coffee             (both traded in USD on the ICE)
- Breakout lower would mean advances both in sugar             and coffee            
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