PipCountFX

USD/RUB - Sell Update

Short
FOREXCOM:USDRUB   U.S. Dollar / Russian Ruble
In this video update to a previous video I posted on selling USD/RUB , we look the Dollar getting weaken against the Ruble and a perfect time to enter a short sell-set up.

The Ruble has a number of factors supporting it's strength agaisnt the Dollar.

1.) Higher interest rates mean selling the currency pair gives you a positive overnight carry trade opportunity.
2.) Higher Oil prices will support the Russian Ruble as Oil makes up 55.92% of Russia's exports.
3.) A weaker U.S Dollar and negative current account balance should further depreciate the dollar.

The one risk to a downside sell is U.S Sanctions on Russia should the Joe Biden take a tough stance with Russia.

We look at Entry price, stop loss and take profit targets for this trade idea.
Kayan Kalipha