DBD Strategy Daily - BRAZIL : another crisis brewing...
Quietly, emerging currencies are losing ground again. The Brazilian Real is the weakest of BRICS's currencies. It is forming a very distinctive long-term pattern called "cup-and-saucer". The USD-BRL has not yet passed its highest high, but it closed an inch above its highest weekly high on Friday. It has not yet closed above the highest daily close though. A break above that resistance would confirm a very important fall on the Real, an acute economic crisis in country.The Brazilian equity market would not be a good investment for the coming months.
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