Howdy fellas,
I am Brazilian by origin so this matters to me.
It's a chart that I always check, as I every now and then exchange these currencies (as well as the euro related to Brazilian real).
Now we all know at some point the dollar index needs to take a step back and retrace.
It could continue to push higher against other world currencies, but that wouldn't be very good.
So unless we're headed for a new world depression, I believe the Gods will allow it do drop.
With that being said, a very decent retrace is the 30% mark that brings it down to the $4 bucks.
But if it repeats the 60% retrace as it did back in 2008 we're looking a much lower numbers.
Take a look at the chart my friends and let me know what you think.
Trade thirsty!
I am Brazilian by origin so this matters to me.
It's a chart that I always check, as I every now and then exchange these currencies (as well as the euro related to Brazilian real).
Now we all know at some point the dollar index needs to take a step back and retrace.
It could continue to push higher against other world currencies, but that wouldn't be very good.
So unless we're headed for a new world depression, I believe the Gods will allow it do drop.
With that being said, a very decent retrace is the 30% mark that brings it down to the $4 bucks.
But if it repeats the 60% retrace as it did back in 2008 we're looking a much lower numbers.
Take a look at the chart my friends and let me know what you think.
Trade thirsty!