/Rompimento do triangulo simetrico confirmado aguardo a busca por niveis mais baixos na regiao do circulo verde
Triangulo rompido buscando níveis mais baixos
Subjective analysis based on the Al Brooks method. We have a broad bullish channel, and within that channel we have an upward and downward trend. If the context continues in the same way (it will probably continue until the market cycle changes) it is possible to imagine a new bearish leg that sets up a new bearish trend within the broad bullish channel...
USD BRL continues its trend up even though conditions are not very good for Brazilian real... it shows brazilian economy is still in track of selling... not getting any substance to get into br......For moment usd brl continues Up
Probability 1. Ranges from 5.34 BRL to 5.62 BRL
Probability 2. It rises quickly to 5.85 BRL, and then if it manages to consolidate at that price 6.2 BRL.
Probability 3. It falls to 5.28 BRL, with subsequent fall to 4.85 BRL. Less likely scenario.
see chart
we can see that it has met with a few resistance point at 5.75 and also 5.46 level posing as strong deterrent for it to go up much higher.
I am expecting it to fall further once it breaks down from the pink dotted line and heads south towards 4.988.
Coming into the new year, the reflationary trade was working quite well. In January, we saw a period of heightened volatility that stressed emerging markets. Brazil was no exception. That said, the weak dollar trend looks likely to resume in the next few months, after the positioning shake-out that we saw in January. Many hedge funds are still on the sidelines and...
Great swing trade forming!
My dears, I want to show you nice postion with long-term profit. Pattern has clear levels, and targets to manage risk and make money.
BRLUSD is sitting in a really iffy spot right now and we may see new ATL's soon. If "Support 1" is not holding it is a clear short position for me with a first target at $.1730. If the red box is not finding support BRLUSD will see new ATL levels - what I would be aiming for with this trade.
According to Investopedia , Brazil is top leading sugar producer globally. So , we take a look at its currency; USDBRL and discovered that since Jan 2020, it has appreciated against the USD for more than 50%. This trend should continue towards the rest of 2020 and likely the first half of 2021 too.
That being the backdrop, then we can assume sugar price to...
