YaKa

Brasil - Chaos into Opportunity soon

FX_IDC:USDBRL   U.S. Dollar / Brazilian Real
475 11 9

Something very negative is going on in Brasil for various reasons.

This will lead to a great opportunity to buy the currency, the equities, the Sugar             .

This chart suggests that if 4.00 is reached again it could be the overall bottom for the country.
This one will be intense...
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agree 100%. based on fibo i would say we may see the 3.70 level (not far from your 4.00). i am building my longs btwn 3.10 and 3.05 as, according to my view, this is a 4th wave retracement getting ready for the final 5th. brl is following the lead of usd appreciation. what happens is that countries with poor performance (economics/political) like brazil are suffering the most. russia is at the same path.
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Lanmar againstthegrain
Accumulating between 2.77 to its current price is a solid play.
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I am not a forex specialist but a major resistance at 3.06 suggests we will not see the “below-3s” any time soon (unless the current dx correction proves to be a full trend reversal).
Reply
Lanmar againstthegrain
3.06 is not a major support level. $2.77 and about $3 is. Reversal would not be confirmed unless 2.30's are broken.
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Lanmar againstthegrain
It depends on the time frame you're trading. I'm a long term trader.
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you could be right. like i said, i am not a forex trader and i have limited knowledge on brazil. here is a snapshot on how I see it. building longs on low range of a 4 usually pays off. question is always how deep this 4 would go. literature suggests somewhere around 0.618, thus it could go further the “blue arrow” you see on the chart below. good luck!
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hey Lanmar, it seems you were right about the correction below $3. How deep would we go in your view? I got stopped today as I wasn't expecting a correction that deep.
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Lanmar againstthegrain
Hey ATG, 2.75, maybe 2.40. I am most definitely not buying anytime soon - I'll take a bite at 2.75 but will keep stops tight, then 2.40 if it gets there. It's also very possible BRL put in a bottom here, but we can't say just yet.
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Very pretty
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