Wednesday, September 28, 2016
Brazilian Real consolidates
On
the daily chart of the US Dollar versus the Brazilian Real, we can see that the
price has been consolidating around the 55 day exponential moving average,
which is currently around the 3.2629. The price is currently at the 55 day EMA
from where it may try to bounce to the downside. If the price goes back down,
its next support could be the 200 week exponential moving average around the
2.9380 level. To the upside, above the 55 day EMA we can see the 200 day
exponential moving average around the 3.4214 level, which could act as its next
resistance.
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Very helpful analysis.
ReplyDeleteThank you for the analysis.
ReplyDeleteGood point! I'll keep an eye on it.
ReplyDeleteGood assessment, I'll keep it in mind.
ReplyDeleteThank you for the analysis.
ReplyDeleteVery informative, thanks.
ReplyDeleteUseful analysis.
ReplyDelete