Brazil has been bullish lately with elections and central bank lifting interest rates. 
USDBRL has been down for quite a lot. However, the move is short term, here is why:
1. Brazil cannot sustain high interest rate for such big deficit (it's not financially strong as U.S)
2. Election effect is priced in and will be gone after the event. Although the candidates are all business friendly(it seems), the effect will need to build over time, not in 2 months.
Watch for exhaustion at 44-46 level for a short set up for continued downside. Weekly cloud suggests bearish price action ahead in 2019.
USDBRL has been down for quite a lot. However, the move is short term, here is why:1. Brazil cannot sustain high interest rate for such big deficit (it's not financially strong as U.S)
2. Election effect is priced in and will be gone after the event. Although the candidates are all business friendly(it seems), the effect will need to build over time, not in 2 months.
Watch for exhaustion at 44-46 level for a short set up for continued downside. Weekly cloud suggests bearish price action ahead in 2019.
Nota
Waiting for 43.6 area to short
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Exención de responsabilidad
La información y las publicaciones no constituyen, ni deben considerarse como asesoramiento o recomendaciones financieras, de inversión, de trading o de otro tipo proporcionadas o respaldadas por TradingView. Más información en Condiciones de uso.