FX_IDC:USDBRL   U.S. Dollar / Brazilian Real
Howdy fellas,

I am Brazilian by origin so this matters to me.

It's a chart that I always check, as I every now and then exchange these currencies (as well as the euro related to Brazilian real).

Now we all know at some point the dollar index needs to take a step back and retrace.

It could continue to push higher against other world currencies, but that wouldn't be very good.

So unless we're headed for a new world depression, I believe the Gods will allow it do drop.

With that being said, a very decent retrace is the 30% mark that brings it down to the $4 bucks.

But if it repeats the 60% retrace as it did back in 2008 we're looking a much lower numbers.

Take a look at the chart my friends and let me know what you think.

Trade thirsty!


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