CapMoore

USD/RUB Daily Study. AB=CD Completion and Levels to watch

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Price has completed a rather harmonic AB=CD with this
last move up. A break above 37,20 could accelerate upward
move, since a failure of respecting the pattern completion
often result in dramatic PA. However, from a technical
point of view on Daily time frame, the level right now is not
attractive for longs. Either wait for a break higher (preferably
on a close basis) or try to trade the AB=CD pattern with a
minimum target at 33,31 or if a 3 Drive pattern is forming
(2nd yellow down leg) look for longs around 34,00-34,40
area.
maccabean
2 years ago
Interesting thanks for the chart. However I do feel with such a fluid and dynamic situation in Ukraine, technical analysis is somewhat extraneous. Right now, there is a good chance war could break out and the ruble would hit 50 easily. I just produced a chart on natural gas, and its a similar situation with that as well. In my opinion it's impossible to predict, except a general sentiment that it will get worse before it gets better and so the ruble will continue to plunge.
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CapMoore maccabean
2 years ago
Fortunately tech analysis is not about prediction but rather to find levels so that you can define your risk
when entering a trade. What is happening in Ukraine is impossible to know the chances for either development,
still, you have the levels here and you can stick to that. You have a plan. Pediction is something else.
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INGA CapMoore
2 years ago
It is very interesting to look at the new technical analysis today. Thanks!
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Russian central bank will intervene to keep RUB under 40 in any case. it's a policy. RUB interest rate up 2%, moreover RCB still makes money: buy cheep RUB from panicking population and then sell back high after heat settled down. Just look at amplitudes for last 3 years. Doesn't drive economy to fast, but they'll need to pay for bread and butter in RUB at the end.
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42Serega.
2 years ago
MARKETS ARE NOT IN DEPENDS OF WARS
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