The USD/BRL has displayed ability to move slightly upwards the past day of trading, but technically the forex pair remains within sight of near term support.

Speculators who want to wager on the USD/BRL via trading today will have plenty of technical considerations to make. The USD/BRL has proven its long term ability to open the day’s trading with vivid gaps, so speculators should monitor the start of the day. Yesterday’s closing price for the USD/BRL currency pair was near 5.1450, which essentially places price action near the upper realms of its five day chart.

However, even as the USD/BRL has accomplished a slight bullish run and been able to sustain the ‘highs’, the forex pair actually has shown ability to incrementally trade lower in the past month. The notion that the financial world is now within the dog days of summer in the northern hemisphere should be taken into consideration, because trends sometimes can prove to be illusions this time of year – meaning they are short lived. Yet, the USD/BRL has mirrored many other major currencies the past handful of weeks and shown some bearish tendencies.

Recent Move Higher may have some Staying Power, but it could also prove to be False

On the 3^rd of August the USD/BRL was trading near the 5.31000 ratio. On the 21^st of July the USD/BRL was near the 5.5200 mark. This decline in price for the USD/BRL currency pair has created a rather incremental pattern. Yes, reversals have been seen, but resistance levels have lowered for nearly a month.

• Resistance near the 5.1600 level should be watched near term, if this level proves strong and is not penetrated higher, additional selling of the USD/BRL could be sparked.
• Today’s opening should be watched closely, a move higher may make sellers nervous, but if price action is consolidated or a move lower occurs early this could be polite bearish signal.

Reversals are certain to occur in the USD/BRL as the Trading Range is Tested Short Term

The USD/BRL is likely to present traders with a solid speculative opportunity today.  With near term resistance levels within sight near the 5.1600 to 5.1700 marks, traders will want to see if these ratios can prove durable. If the higher levels prove strong additional selling may occur on the notion the trend for the USD/BRL remains bearish.

A move above the higher relatively close resistance levels could set off volatility in the near term. However, the last time the USD/BRL traded above the 5.2000 level was on the 5^th of August. If the USD/BRL opens with a slightly lower move, but remains above the 5.1400 mark this could entice bearish traders to aim for the 5.1350 to 5.1275 prices. Entry orders should be used with the USD/BRL and solid risk management is essential.

Brazilian Real Short-Term Outlook

Current Resistance:  5.1496

Current Support:  5.1342

High Target: 5.1639

Low Target:  5.1148

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BNB/USD has demonstrated a serious amount of choppiness the past five days and its volatile results are not likely to end soon, creating speculative opportunities.

Day traders who enjoy a speculative wager with quick hitting results may be tempted to look at BNB/USD.  The results in Binance Coin the past week of trading have been choppy, and while they have mirrored many of the major cryptocurrencies, BNB/USD also famously marches to its own drumbeat. As of this writing BNB/USD is below the 392.0000 ratio and conditions are fast.

In late trading last night BNB/USD slipped to nearly 380.0000 and then reversed higher.  Because of its relatively large value per coin, BNB/USD may not produce the rapid fire percentage changes some speculators crave. Yet with a limited amount of leverage and the fact that solid volumes often create swift changes in value, Binance Coin remains a favorite of traders while searching for rapid outcomes.

Moves of a couple of USD within a few minutes are common in BNB/USD, and traders are urged to use entry price orders when wagering to make sure their fills meet expectations. Day traders looking for quick results can use take profit and stop loss orders, and produce results within a limited amount of time that some may find quite attractive. While behavioral sentiment in the cryptocurrency market remains nervous, choppy displays of value have become commonplace the past few days.

BNB/USD is within sight of one month lows, and those depths were actually created late last night.  While the reversal upwards in the past handful of hours may be tempting for speculative bulls to dream of higher prices, the move upwards may also tempt traders to believe another leg down may be exhibited rather soon too via another reversal.

The 390.0000 support level should be watched carefully, if this juncture fails to hold back selling pressure another swift burst of downward pressure may mount. Binance Coin is a major cryptocurrency which certainly can be a barometer of market sentiment due to its use as a utilitarian digital asset to trade other cryptocurrencies. Support levels are still be within sight of technical traders. If mid-March values in BNB/USD near the 380.0000 were to suddenly become vulnerable this would certainly add to nervousness.

Choppy technical conditions in the short term will certainly lead some traders to chase nearby support and resistance levels. However traders should be cautious about violent moves downwards. From a risk reward perspective there appears to be a greater chance for a larger amount of selling to be produced near term, compared to a sudden thrust upwards which penetrates distant resistance levels.

Binance Coin Short-Term Outlook

Current Resistance: 392.0700

Current Support: 388.6500

High Target: 401.1000

Low Target: 381.2900