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mjhillpp
Aug 19, 2015 2:13 PM

USDBRL awaiting breakout of triangle 

U.S. DOLLAR / BRAZILIAN REALICE

Description

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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