USDBRX trade ideas
USD/Latin American currencies poised to reboundWe have in Red (USDBRL) and Orange (USDCLP) the two strongest currency in latin american recovering from recent devaluation in a pronounced way in comparison with Dolar Index (Green). But fiscal situation in Brazil is getting worse, the political problem after impeachment of last president is to approve a series of bills to cut social expenditure like Health and Education, while continuing rolling over debt. Debt-to-GDP ratio is getting to 70% this year, in 2014 it was 55% showing significant deterioration.
While Business Confident Index (BCI-OCDE) improved this year, I have no reasons to believe it will last, in my vision is more related to a psychological vision that impeachment will bring structural changes, but the new goverment don't discard raise taxes.
In Chile (USDCLP) on the other hand, without impeachment, has the worst BCI in the world right now. showing the profound crises Latin American is facing. With all the majors countries in crises Mercosur business is stagnated.
Time to LONG Latin American Pairs.
Sources:
Debt-to-GDB Brazil: BCB 2016
BCI-OCDE: data.oecd.org
USDBRL UpdateI want this one cheap. I am not buying on any breakouts. I want to go long at an extremely low risk entry.
BRLUSD- more weakness aheadwave 4 correction is over.
Brazilian Real should resume its downtrend.
Previous low will be retested
USDBRL short entry [Just an idea]Hi traders,
On the USDBRL daily chart I'm looking at a potential bearish entry at the retest of the trendline. This area lines up with the completion of the AB=CD pattern and the 38.2% Fibonacci retracement.
Entry: 3.3228
Stop: 3.3960
Target: 3.1898 = R:RR 1.82
Good luck! Updates will follow.
Long on BRLUSD Brazil RealIn this pair the price reached a support line, probably won't close under that. Buy it now and sell if close (manual stop) under it anytime. The goal is at 0,3302.
long opportunityFrom last mid-march USDBRL (Day) drops while MACD indicates there are more and more buyers. At some time buyers will rush in it.
Will it be at B between
> 0.618A.
> and (c) = 2(a) expansion
FORECAST USDBRLOPEN POSITION: SELL 3.23
STOP: 3.26
TARGET 3.18
SECONDARY TARGET 3.14
CANCEL: IF CLOSE OVER 3.25
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USDBRL bullish bat pattern [Just an idea]Hi traders,
On the US DOLLAR / BRAZILIAN REAL we can see a bullish bat pattern forming. The entry is at point D, which represents a value of just above 3.
Entry: 3.0377
Stop: 2.8072
Target: 3.4369 = R:RR 1.73
Good luck. Updates will follow. Will not be trading this myself.
Weekly BRLFX_IDC:USDBRL There are some evidences about bullish move in BRL. 3th wave is in formation. Stay tunned for any different movement.
If it break down the blue line, a new strategy must be formulated.
Trade wisely
dollar real brazil olympics scenariosame as the other prevision, but in a fastest timeframe with chaotic olympics 'usain bolt' hypothesis
Updating BRLMorning!
The FX_IDC:USDBRL in the 3rd wave formation this week targeting 100% with optimism!
Anyway, careful if it breaks the blue trend, new strategy must be formulated.
Trade wisely!
