USDBRL awaiting breakout of triangle
Awaiting development in USDBRL on this symmetrical triangle formation
Most of the time if a triangle like this happens in a trend, the breakout that follows goes with the trend.
Yet, to me, it is wait and see.
Implications on commodities:
- Breakout higher would be bearish for sugar and coffee (both traded in USD on the ICE)
- Breakout lower would mean advances both in sugar and coffee
Most of the time if a triangle like this happens in a trend, the breakout that follows goes with the trend.
Yet, to me, it is wait and see.
Implications on commodities:
- Breakout higher would be bearish for sugar and coffee (both traded in USD on the ICE)
- Breakout lower would mean advances both in sugar and coffee
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.