BRL struggling right now. Next weeks are critical.All necessary information is on the chart.
Following last years elections results BRL recovered against the US dollar, but despite a series of positive indicators, reports and overall better economical mood BRL failed to follow towards the target of the previous head and shoulders pattern, instead, encouraged by yet another corruption scandal, the price has been hiking strong, and has the potential to trigger a massive cup and handle pattern. Such a massive loss of value is not unheard of in South America, and has as a matter o fact befallen a neighboring country - Argentina - a few years ago.
