Using the cup pattern and fibonacci retracement as a basis, there is a great chance that the BRL will continue to depreciate in the coming months.
Notice that the dollar price is consolidating in the gap between 0.5 and 0.618 fibo retracement, within the uptrend.
Most likely late 2021 or early 2022, the BRL will break through the 0.618 fibonacci resistance and...
One of the most liquid Emerging Market currency crosses, $USDBRL, is advancing for an eight straight trading session through Thursday. This is the longest unbroken bull run for the exchange rate since September 2014.
It's impressive that it is advancing in today's session given the Dollar is under pressure of its own, but it seems general risk aversion is the...
The USDBRL pair has been trading within a steady 2-decade long Channel Up, which is well displayed on this 1W chart. As you see last time it formed a 1W Death Cross (MA50 crossing below the MA200) after a Higher High, it dropped significantly and that was still a fairly early buy signal on Coffee (KC) on a long-term 5-year horizon.
At the moment USDBRL hasn't...
Black lines represent a weekly pattern. We had a retracement to the current price level of 5,20.
I expect strong support around this level and a bounce back to the upper resistance level with an eventual break to retest the ATH
In this chart we can see the demand growing gradually, even finding a resistence in 5.85, this moving has formed a triangle, and when it break up the target will be in 6.89! The clear accumulation can preventing us from taking stops! By another way if we see a closure under the ascendent line the price will enter into a lateralization or even make a reversal! Good...
In this chart we can see the demand growing gradually, even finding a resistence in 5.85, this moving has formed a triangle, and when it break up the target will be in 6.89! The clear accumulation can preventing us from taking stops! By another way if we see a closure under the ascendent line the price will enter into a lateralization or even make a reversal! Good...
IDC
