Is Ruble's rally about to end?

FX_IDC:EURRUB   Euro / Russian Ruble
280 0 3
Despite a prolonged period of strengthening of the Russian currency versus the one of European Union, the decline shows signs of deceleration and possible reversal in tune with a larger uptrend towards psychological level of 100 and beyond. The latter is unlikely however, since it looks like the major uptrend itself is getting tired already. If everything goes as planned, we may have the single currency cost around 100 rub. by June 2016.

Does it mean we need to start buying Euros now? Well, not quite yet. We may see Euro's price fall to and consolidate around 75.5 - 77 rub. for a while before finally bouncing up. I'll keep you informed.

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