USDBRL Is this an early Buy Signal for Coffee?
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 made a new High in more than 1 year and the 1W MA50 (blue trend-line) is rolling over. Can this be a very early buy signal on Coffee before confirmation comes by the 1W Death Cross? It would appear that way and in our opinion that is an excellent long-term buy opportunity on Coffee futures.
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At the moment USDBRL hasn't made a new High in more than 1 year and the 1W MA50 (blue trend-line) is rolling over. Can this be a very early buy signal on Coffee before confirmation comes by the 1W Death Cross? It would appear that way and in our opinion that is an excellent long-term buy opportunity on Coffee futures.
** Please support this idea with your likes and comments, it is the best way to keep it relevant and support me. **
--------------------------------------------------------------------------------------------------------
!! Donations via TradingView coins also help me a great deal at posting more free trading content and signals here !!
🎉 👍 Shout-out to TradingShot's 💰 top TradingView Coin donor 💰 this week ==> fract
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