Chart is giving signals that the trend will continue upward.
Assuming a breakout of the handle at 4.06 the target of the Cup and Handle pattern would be 5.13.
I see pattern cup and handle, and we can see either that USD/BRL being following this channel since 2011, so lets see if the price its going to hit the resistance of this upper channel.
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...
The Brazilian Real remains under fire due to a weakening commodity outlook, continued coronavirus concerns and impacts on LATAM/emerging market assets, revisions in inflationary outlook (down to 3.25% for 2020) and subsequent shifts in future monetary stimulus, high gross debt to GDP (~80%) and continued capital outflow from asset markets.
All within a risk-off...
Would target 5.40 (+26%) and would likely be driven by China slowdown-Coronavirus
Approximately 27% of Brazilian exports go to China
Currently 90m people in lock down and Bloomberg estimates 69% of Chinese GDP shut this week
Does it re-open next week or further lock downs?
The pair will continue to move higher in the following days to reach its all-time high. The US trade deficit with China falls in 2019, its first time in six (6) years. Yesterday, February 05, the Commerce Department said deficit slips by 1.7%. Imports tumbled 1.7% while exports decrease by 1.3%. The curb in trades were amid the trade war between the two (2)...
In this video we are looking MTF analysis. USDBRL is at all time high. We will think only going longs, not shorts.
Note: Sorry for my english. I tried my best :)
