BRAZIL & CHINA 🇧🇷🇨🇳

Here is a brief recap:

In just three months in 2021, Brazil's gold reserves surged nearly 100%.

Today it holds nearly 130 tons.

In March 2022, Brazil's central bank reported that the country made a noteworthy shift in its foreign reserve strategy.

The central bank said it quadrupled its foreign reserves in Chinese yuan while reducing its holdings of U.S. dollars and euros in 2021.

Towards the end of 2022, news surfaced that China would be importing corn from Brazil in a bid to diversify its sources and lessen its reliance on the United States, which happens to be the largest corn exporter in the world.

In January, China emerged as the largest importer of corn from Brazil. It is worth noting that Brazil is currently the third-largest producer of corn globally.

Earlier this year, the President of Brazil hinted at the potential creation of a shared currency for both BRICS and MERCOSUR, which could be used in mutual settlements.

After that?

The world learned that Argentina and Brazil are discussing the possibility of launching a common currency. The move is seen as a part of their collaborative efforts to minimize dependence on the U.S. dollar.

These are the two largest economies in South America.

This brings us to the last 24 hours:

Brazil and China have struck a deal to ditch the U.S. dollar in favour of their own currencies in trade transactions.

This agreement will allow direct trade and financial transactions between China and Brazil, where the two nations can transact using their respective currencies, yuan and reais, without having first to convert their currencies to U.S. dollars.

The trend is now very real and open for everyone to see.

It is going to be a wild ride.

ASEAN Considers Dropping U.S. Dollar, Euro, Yen, Pound for Settlements

Over the last ~25 years, the use of the U.S. Dollar for foreign exchange reserves has steadily declined from 72% to 59%.

Meanwhile, Euro usage is up slightly from 19% to 21%.

The most important part?

“Other” currencies, including the Chinese Yuan, soared from 4% to 10%.

Is the U.S. Dollar going to disappear?

The answer is absolutely not.

However, 40-year high inflation and the banking system collapse have people questioning the system.

There are so many alternatives to the U.S. Dollar right now.

People are sick of inflation and instability.

#XAGUSD Looks Promising for Massive Descending Channel Breakout.

As Resistance getting Weaker, In Case of Breakout, Expecting +50% Bullish Rally in Midterm.

#XAUUSD Symmetrical Triangle Breakout & Retest has Confirmed in Weekly TF Chart.

$2500 is Programmed ✍️

#EURCAD Rising Wedge Formation in Daily TF Chart.

In Case of Downside Breakout, Expecting +600-750 PIPs Bearish Wave..

#XAGUSD Bulls in Complete Control 🏄‍♂️📈

#DXY is forming Falling Wedge Pattern in 1D TF.

In Case of Upside Breakout, Expecting Massive Bullish Rally in May-June..📈

#XAGUSD So far, So good..!!

#DXY Falling Wedge Breakout on Daily TF Chart..📈

#EURCAD Rising Wedge Downside Breakout & Retest has Confirmed in Daily TF Chart.

Still Expecting +500 - 600 PIPs Bearish Rally..

#NZDJPY Rising Wedge Downside Breakout & Retest in Weekly TF Chart.

Expecting +1000 pips Bearish Rally in the Midterm.

#CADCHF Looks Promising for +500 PIPs Bullish Rally So Keep an eye on it..

#CADJPY Still Moving inside the Ascending Broadening Wedge..!!

#US100 Bulls in Complete Control 📈

#CADCHF Falling Wedge Breakout has Confirmed in Daily tf Chart..!!

#EURCAD +200 PIPs Profit so far.. (Hold with Patience)

#DXY Bulls in Complete Control..!!