The USD has reached a strong resistance once again. Besides, the USD price has gone too far from the EMA200, there we can say the USD has become 'expensive'.
To enforce my short-term bearish view, comes the divergence between the price direction and both MACD and RSI. That's a strong indication that this bullish move has exhausted its strenght during its climbing.
Let us see if gravity will have its say in this situation.
Resistance areas: R$4.30 ~ R$4.60 Support areas: R$4.00 ~ R$3.80
R$4.49 then back to 4.20 +/- then text 4.50 for months and then break through and hit 5/1 asap.
Phase 1 trade deal with USA will take up to 40% of soy trade from Brazil and with coronavirus growing and slow down of China economy, we are only going one way .
R$4.49 then back to 4.20 +/- then text 4.50 for months and then break through and hit 5/1 asap.
Phase 1 trade deal with USA will take up to 40% of soy trade from Brazil and with coronavirus growing and slow down of China economy, we are only going one way .