BRLMXN has plenty of upside...
Here we have a very wide ABC in play with the C leg finishing at 7.25 - 7.28.
From a technical perspective, the market has presented a flawless 5 wave impulsive move with a three wave retracement. Those who are betting on the upside will be coming in here at the 38.2% level at 5.09; and we can expect a continuation.
There is scope here for as high as 7.25-7.28... here actively working a lot on the buy side in Brazil.
Best of luck, hope this helps and lets see how it goes.
From a technical perspective, the market has presented a flawless 5 wave impulsive move with a three wave retracement. Those who are betting on the upside will be coming in here at the 38.2% level at 5.09; and we can expect a continuation.
There is scope here for as high as 7.25-7.28... here actively working a lot on the buy side in Brazil.
Best of luck, hope this helps and lets see how it goes.
Komen:
Nice moves kickstarting here
