USD/BRL UPDATE
Just added 50% to my USD/BRL short. Now a full short position
BRL strength is accelerating as the domestic economic backdrop deteriorates, raising the odds of a new government in the upcoming elections.
Technically, the dollar is in a high quality sell zone right at resistance.
Target (yellow circle on the chart) lower
Just added 50% to my USD/BRL short. Now a full short position
BRL strength is accelerating as the domestic economic backdrop deteriorates, raising the odds of a new government in the upcoming elections.
Technically, the dollar is in a high quality sell zone right at resistance.
Target (yellow circle on the chart) lower
