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