USD/BRL: Buyers Return
The negative outlook of early January has faded. The then expected breakout did not materialized. Moreover, buyers have returned and are even trying to trigger a new recovery phase of some sorts. For this they must convincingly clear the barrier around 3.3475 thus paving the way towards 3.4750 and perhaps a bit higher.
Although not spectacular, it is one of various signs that the USD is regaining strength, at least on a 1-3 month horizon. Keep stops nearby at 3.1520.
Primary trend: neutral
Outlook: recovery likely, moderately positive > 3.3475
Strategy: trading-buy above 3.3475
Support: 3.1520 / 3.0810
Resistance: 3.3475 / 3.4750+
Outlook cancelled/neutralized below 3.1520
USDBRL
Although not spectacular, it is one of various signs that the USD is regaining strength, at least on a 1-3 month horizon. Keep stops nearby at 3.1520.
Primary trend: neutral
Outlook: recovery likely, moderately positive > 3.3475
Strategy: trading-buy above 3.3475
Support: 3.1520 / 3.0810
Resistance: 3.3475 / 3.4750+
Outlook cancelled/neutralized below 3.1520
USDBRL
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.