Paper Alfa - Macro & More

Paper Alfa - Macro & More

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Paper Alfa - Macro & More
Paper Alfa - Macro & More
Trade Corner

Trade Corner

Brazilian Real (BRL)

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Paper Alfa
Nov 13, 2024
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Paper Alfa - Macro & More
Paper Alfa - Macro & More
Trade Corner
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by Macro D

In the mid-September weekly report, I presented my long idea on the Brazilian real (BRL), listing three different trades.

Trading Ideas:

  1. Short USD/BRL

  2. Short EUR/BRL

  3. Long BRL/KRW

As of November 13, the situation is this:

USD/BRL SHORT

Entry at 5.6527: the price is now: 5.8089

EUR/BRL SHORT

Entry at 6.2617: the price is now: 6.1313

BRL/KRW LONG

Entry at 235.80: the price is now: 242.01

Naturally, the USD/BRL exchange rate has undergone more excellent excursions. Still, overall, I can confirm my long view on the Brazilian real, which shows us that necessary technical development tends to confirm the desire for an extension by confirming the graphs of interest. In contrast, from a macro point of view, I remain confidently tied to the thought that the Brazilian currency is about to become the protagonist of a chain of events that should push it firmly upwards.

Let’s explore.

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