- Analytics
- News and Tools
- Market News
- USDBRL: Break beyond one of 5.01-5.62/5.64 bands essential to affirm a trending move – SocGen
USDBRL: Break beyond one of 5.01-5.62/5.64 bands essential to affirm a trending move – SocGen
USDBRL’s bounce has stalled after retesting July peak of 5.51. Analysts at Société Générale note that the pair needs to break beyond one of the 5.01-5.62/64 bands to affirm a trending move.
Initial pullback expected towards 5.24/5.20
“An initial pullback is expected towards the bullish gap of last week near 5.24/5.20.”
“It is worth noting that the pair has been witnessing crisscross moves around important Moving Averages which denotes a clear direction is lacking; the price action could remain broadly within limits of 5.01 and multi-year channel at 5.62/5.64. A break beyond one of these bands is essential to affirm a trending move.”
© 2000-2024. All rights reserved.
This site is managed by Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).
The information on this website is for informational purposes only and does not constitute any investment advice.
The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.
Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.
Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.
Please contact our PR department if you have any questions or need assistance at pr@teletrade.global.
Bank transfers
