USD/BRL bulls satisfied @38.2% Fibos, bears hover with whipsaws

FX_IDC:USDBRL   美元 / 巴西幣
On daily charts , we see stiff resistance at around 3.3346-3.3420 levels where the pair has shown a convincing supply zone in the recent history.

That is where a resembling evening star pattern has occurred that is pulling back from highs of 3.34 levels.

Hanging man patterns at 3.3149 and 3.3121 levels are occurred to plummet the prices below 7DMAs. Thereafter, you could see a steep slump upto the current levels of 3.2369.

However on a broader perspective, in the recent times, it has managed to test the strong supports at 3.2019 (i.e. 38.2% Fibonacci levels on monthly plotting) to bounce back again but upswings are restrained at the same resistance levels.

Most noticeably, the current price behavior in the major trend goes in whipsaws pattern on 21&7-EMAs & 38.2% Fibonacci retracement levels, the current prices are well below EMAs in this time frame.

Both leading oscillators ( RSI and stochastic curves) have shown indecisiveness on this timeframe but indicate strength and intensified momentum in ongoing selling sentiments on daily terms, historically it has shown the faded strength at the same levels.

While MACD also signals downswings to prolong further.

Overall, the major trend has turned into corrective modes for more than two years, ever since shooting star has occurred at peaks of uptrend at 4.0093 levels it has tumbled retrace more than 38.2% Fibonacci levels.

Trade tip:

Since, both leading, as well as lagging indicators, are in bears’ favor, deep slumps are most likely. Well, on trading perspectives, it is worth to snap rallies and deploy tunnel spreads using upper strikes at 3.2434 and lower strikes 3.2196 levels where it is likely to test next strong supports.
ZH 繁體中文
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
AR العربية
HE עברית
首頁 股票篩選器 外匯篩選器 加密貨幣篩選器 全球財經日曆 如何運作 圖表功能 網站規則 版主 網站 & 經紀商解決方案 小工具 圖表庫 功能請求 部落格 & 新聞 常見問題 幫助 & 維基 推特
概述 個人資料設定 帳戶和帳單 我的客服工單 聯絡客服 發表的想法 粉絲 正在關注 私人訊息 在線聊天 登出