BRLUSD: Technical bottom spotted
I think this can be the bottom of the recent pullback in the Brazilian Real. I'm long $BRL as an oil proxy here, shorting $USDBRL with a tight stop at 3.3415.
The political crisis might be averted, and the currency can soar, specially with the extreme negative sentiment currently affecting it.
Best of luck to our brazilian friends, and to anyone taking the trade.
Ivan Labrie.
The political crisis might be averted, and the currency can soar, specially with the extreme negative sentiment currently affecting it.
Best of luck to our brazilian friends, and to anyone taking the trade.
Ivan Labrie.
Kommentera:
Strong move in the real, as the market sees relief from the political crisis.
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