$USDBRL Another Speculative Volatile Day likely to Happen
went into the weekend near the 5.1996 ratio, this after actually trading near a low of 5.1085 on Tuesday of last week.
A combination of Brazilian politics and nervous global economic outlook regarding central bank interest rate policies is likely to keep the USD/BRL rather volatile this coming week. Global equity indices continue to exhibit fragile sentiment and if behavioral sentiment grows increasingly jittery this could cause a rather choppy range for the USD/BRL with upwards price action.
If the USD/BRL opens with a tranquil value and maintains its current range between 5.1950 and 5.2025 traders may anticipate a day in which speculative wagers can be triedHowever, if the opening of the USD/BRL opens with a strong move to the upside it could mean the currency pair may be seen as being oversold.
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