Brazilian Real is bearish against the Euro and Dollar
by John on 09/12/08 at 3:43 am
The Brazilian Real continue to lose ground against the USD and the EUR. After a great rally against the USD, the Real rally is over.
Here’s an USD/BRL Chart:
The USD was able to break above a strong downtrend. This was a powerful breakout that turned the USD on a strong uptrend against the Real.
The EUR/BRL chart also shows more weakness on the REAL. The EURO was able to break above an important resistance ans continues to gain territory against the Real.
