Cup and handle (years range)
USDBRL graph did form a cup and handle pattern that has started on 2002 and was broken only on 2019. When R$4.00 line was crossed, it set a target on R66.40/R$6.50 (18% upside). However, this week the upside channel has been broken and on Friday market tried to rally back but closed almost at same price it opened (kind of shooting star pattern, but on a descending trend, not reversal). It might mean that market is heading for a consolidation, before it proceed to the cup and handle target.
Few macro things might need to play for the final run - further delay on COVID peak, increase on political turmoil, second wave of COVID on other countries, delay on vaccine, MMT in BRZ, further decrease on local interest rates (probable), etc.
This is my first graph shared, so if you feel is helpful somehow for the community, please let me know so I can continue sharing other ideas (like, comment, sharing, etc).
Stay safe.
Few macro things might need to play for the final run - further delay on COVID peak, increase on political turmoil, second wave of COVID on other countries, delay on vaccine, MMT in BRZ, further decrease on local interest rates (probable), etc.
This is my first graph shared, so if you feel is helpful somehow for the community, please let me know so I can continue sharing other ideas (like, comment, sharing, etc).
Stay safe.
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.