All of you jonsing for a trade…this is a good place to look.

Brazil has a potential double bottom on the yearly just shy of 49.25. I’m looking for this to make an attempt at 55, by staying over 51.50 ish on a closing basis. This means anything in the mid 54’s will be an exit for 2/3rds of any position attempted.

The USD/BRL hit it’s tgt of 209 and is reversing, bringing the EWZ with it. If the correlation holds, look for USD/BRL trade into the mid 190’s