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Euro / Brazilian Real

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EURBRL trade ideas

Buy BRL$I have spent a few years in Brazil. I love the place. I have some ties there. I remember I used to get like 2.5/1eur It has massivily devalued over the years. I would find it difficult to spend more than $500 in a month when I was last there. This is looking like a breakout. If you have $ sitting in your bank account or euros or whatever. Buy some real because it is going to double in value. No reason to think it. Only chart stuff. And I dont expect it to take to 2029 it will be in the next year, into 23.
Long
by Ilheus
The Brazilian real and the number of coronavirus casesIt’s evident that the Brazilian real’s value continues to plummet against the eurozone’s single currency. The EUR/BRL trading pair has been very bullish in recent days, climbing to record heights. Unfortunately for the Brazilian real, it’s not expected to recover yet although today, prices are seen steady due to the slight weakness faced by the euro. Looking at it, the Brazilian real’s appeal won’t work on investors as the number of coronavirus cases in the country continues to climb drastically. Just recently, the country’s health ministry reported more than 23,000 new confirmed coronavirus cases in the country on Sunday. The Latin American powerhouse now has more than 3.6 million confirmed cases since the pandemic began and the death toll is now over 114,000 according to official reports. Based on those figures, Brazil has the world’s second-worst coronavirus outbreak after the United States and the number is sadly closing in.
Long
by Financebroker
Bearish investors are hoping to have their luck against the tideThe euro to the Brazilian real exchange rate has the potential to go down towards its support level as the euro slows down momentarily. Bearish investors are hoping to have their luck against the tides, possibly pulling the prices lower towards their support in the coming days. However, the move will mostly have a minimal dent on the momentum of bulls as it will not be enough to push the 50-day moving average lower against the 200-day moving average. As of today, the pair has been trading neutrally as both sides wait for further guidance that could tip favors into their ends. The deal between the leaders of the European Union is the main factor that contributed to the prowess and strength of the euro now. And the Brazilian real is weighed down by the struggling country whose economy has been greatly battered by the pandemic. The number of COVID19 cases in Brazil makes it difficult for the real to fully recover against other major currencies.
Short
by Financebroker
Understanding Fair Value of Emerging Market FX RatesWhen making the decision of when to convert currency people tend to have a short-sighted view of what good value exchange rates are. What most people don't take into account are the 4 most important factors when it comes to a currency: Inflation, Interest Rates, Economic Health, Political Risk. Inflation is the first aspect to look at. Typically a currency will stay in a range whilst inflation continues to increase asset prices and eventually the currency breaks out of the range to establish a new range. At the moment of the breakout, everyone thinks it is temporary and will go back down and that it is too expensive or overvalued when in reality it is just the currency finally catching up to a fairer range inline with inflation over the period. This repeats itself over and over again. Typically a currency goes sideways whilst inflation and other fundamentals deteriorate its value over time. In reality, currencies should gradually depreciate in a stairway or step by step pattern. Eventually, the currency moves through its fair value trend to become over/undervalued and then accelerates dramatically to catch up to its true value. These moments of acceleration are often exaggerated to a peak before pulling back to fair value and then going sideways again. If you add a reducing interest rate, weak economic health and political risks you can expect the currency to depreciate further than the longer-term inflation average as foreign investors do not want to own a risky currency that offers low-interest rates.
by EmpireConsulting
1
The Brazilian real appears that it lost its recovery momentumThe Brazilian real appears that it lost its recovery momentum since early June, not just against the euro, but also against other currencies. The EURBRL’s prices have been flirting with a critical resistance, and yesterday, prices bounced off aggressively from that level. However, the pair is widely projected to climb higher and break it, ultimately reaching its higher resistance level in the first half of the month. That should continue to buoy the 50-day moving average against the 200-day moving average, suggesting that the market is still bullish. The Brazilian real is in danger against the euro as bullish investors want to continue their strong performance. In fact, the euro seeks to extend its best run in more than two months against most currencies as it rides on the wave of coronavirus and economic hopes. Bearish investors will have a tough time as more biopharmaceuticals get more positive news from their coronavirus vaccine which helps the euro.
Long
by Financebroker
EUR/BRL should go down to its support level this month The exchange rate slightly steadies this Monday, but bears are widely expected to come out triumphant in the coming sessions. The pair should go down to its support level this month as the Brazilian real makes an astonishing come back. The news about the European Central Bank’s decision to expand its stimulus program even more than expected failed to support the euro last week. The ECB opted to widen its stimulus program to support the badly injured economies in the region which is currently facing its worst recession since the Second World War. The decision of the ECB also supported the risk sentiment in the market which ultimately boosted the Brazilian real as well. According to reports, the central bank ramped up its emergency bond-buying scheme by about €600 billion to €1.35 trillion. Aside from that, ECB head Christine Lagarde is set to testify later today, to update the bloc about the stimulus programs which delighted bulls.
Short
by Financebroker
The Euro and the Brazilian real aren’t seeing good trajectoriesIt looks like both the Euro and the Brazilian real aren’t seeing good trajectories this week as both economies show negative news and figures. Brazil’s national economy shrank 1.5% in the first three months this year, which was down from a revised 0.4% jump during the previous quarter in 2019. The drop was the first contraction since 2016, as well as the biggest decline since early 2015. Several sectors like finance, mining, manufacturing, construction, and public administration all met significant slumps throughout the period. Although the HIS Markit manufacturing purchasing managers index saw a higher-than-estimated figure on Monday, which came in at 38.3 in May against April’s 36 low. Meanwhile, conflicts with Britain continues to affect the already failing economy in Europe. Nonetheless, Brazil’s new status as a coronavirus epicenter is expected to push its economy down against the single currency.
Long
by Financebroker
The Brazilian real gets a chance to recoverThe Brazilian real gets a chance to recover thanks to the recently reported recession in German, the bloc’s biggest economy. The single currency steadies this Tuesday but is widely expected to contract in the coming sessions as investors worry about possible measures from the eurozone to save its powerhouse. Yesterday, the German statistics office reported that the country’s economy dropped from -0.1% to just -2.2% in the first quarter of the year thanks to the lockdown measures that closed businesses. The euro will continue to struggle as Berlin is also expected to see a deeper economic slump in the second quarter of the year. The news gives a much-needed opening for the Brazilian real who has also been struggling against most major currencies in the market, Bearish investors of the euro to Brazilian real exchange rate are hoping to force the 50-day moving average to make a downward reversal in efforts of minimizing prior losses.
Short
by Financebroker
EUR/BRL will continue to move higher in the following daysThe pair will continue to move higher in the following days towards its all-time high. The EU’s economic powerhouses, Germany and France, posted their lowest Manufacturing and Services Purchasing Managers Index (PMI) reports in the first week of May. The bimonthly report saw its figure dropping to the lowest level since the 2008 Global Finance Crisis. In addition to that, the European Union also suffered the same fate. Analysts, however, are optimistic that these reports have already hit their bottom and are projected to post higher figures compared to their previous reports. The positive sentiments from analysts came as most EU member states continue to ease their restrictions. Spain, the EU’s most affected member state from the coronavirus pandemic, is now only the 6th on the list of countries with the biggest cases of COVID-19. Brazil, on the other hand, is preparing to become the second most infected country in the world.
Long
by Financebroker
EURO/REAL ( $BRL 1W) we will witness historyIt is said that the market is always right. What the market is telling us right now is to sell real to buy euro. Let’s analyze the chart. First and foremost, the pattern : A Cup and Handle That broke out last week. The price is above all EMAs and all my indicators are favoring the upside. Meaning of a strong devaluation of the real against the EURO. With new ATH the trend is clear ; it is up. I speculate the next high value base on an Elliot’s Waves Fibonacci extension model. It is just speculation, my skill with Elliot’s Waves is not that sharp yet. Do not take it as fortune telling. I’m not a forex trader but if I was one, I know in which direction I would trade the pair EURO/REAL. As time goes by, I will keep you updated on the evolution of the exchange rate, so make sure to follow me on Tradingview Disclaimer : This is not financial advice as I’m not a financial adviser. This is just my knowledge on what can be said and done from the chart. Due to the volatile nature of the cryptocurrencies market, it can change on a day to day basis. Everyone is wise to manage their risk properly when considering any trading decision or activities.
Long
by DecisionDoji
Brazilian real crumbles against the euroAs the Brazilian president downplays the novel coronavirus, the Brazilian real crumbles against the euro. Despite being struck by the paralyzing virus, the eurozone’s single currency holds the upper hand in the EURBRL pair. The far-right president of Brazil, Jair Bolsonaro, defied his own government’s social distancing policies against the coronavirus. Bolsonaro joined and interacted with his supporters on the streets of Brasilia as he urges them to continue living normally and keep the economy going. It appears that the economic activity comes first than prioritizing safety and health, leaving a rather distasteful trace to investors. Meanwhile, the current weakness of the euro is attributed to the dwindling confidence over the economic sentiment of the bloc. Also, Berlin’s council of economic advisers said that the economy could contract as much as 5.4% this year courtesy of nonother than the novel coronavirus.
Long
by Financebroker
1
EUR/BRL failed to breakout from a major resistance lineThe pair failed to breakout from a major resistance line, sending the pair lower towards a key support line. Brazil is seeking a Mercosur-UK trade deal, which will be the same agreement with the European Union. This was after thethen second-largest economy in the EU withdraw from the bloc last January 31. Brazil is among the growing number of non-EU countries seeking ties with Britain. On the global ranking, Britain placed fifth on the largest economy in the world next to Germany, the EU’s economic powerhouse. The ECB will also hold several press briefings today, February 06, to discuss the current economic climate within the bloc. Analysts are worried that the press briefings will be negative with the recent slump in Germany’s Factory Orders report. On January 08, Germany posted a negative growth in factory orders which increases fears that Germany might enter a recession. With this is mind, the euro will fall in coming sessions.
Short
by Financebroker
1
Brazilian Real to trade higherLooking at the recent changes in Brazil the technicals and fundamentals are lining up for a stronger BRL. BRL may open stronger Thursday, as the central bank delivered an expected 50bp rate cut, but notably removed the following sentences from the statement. “In the Copom evaluation, the evolution of the basic scenario and the balance of risks prescribes an adjustment in the degree of monetary stimulus, with a reduction of the Selic rate by 0.50 percentage points. The Committee considers that the consolidation of the benign scenario for prospective inflation should allow an additional adjustment of equal magnitude." It also took out the phrase "in any further adjustments in the degree of stimulus" from the following line in the October statement: “The Copom understands that the current stage of the economic cycle recommends caution in any further adjustments in the degree of stimulus.” - S&P followed the rate decision by upgrading Brazil’s outlook from stable to positive. Looking at the technicals the EUR/BRL is currently at the Monthly Pivot and is making lower highs and lower lows - finding resistance above. There is a lot of possible liquidity below the Yearly Pivot as this acted as strong support from the summer.
by ForexVox