For the Russian currency, everything looks bad. Coronavirus, falling oil prices. Positive factors are not yet visible. This year, there may be a big drop against the dollar to 84 and even to 100 (with a very bad scenario). It is necessary to monitor OPEC and the price of oil in March and April. If Russia and OPEC do not come to an agreement by April, then this scenario is likely to come true. The ruble will fall after oil. If they come to an agreement, then the price of the ruble should stabilize approximately in the range of 66-70.
You can enter the deal after a small rebound in the price after this impulsive fall of the ruble with a small stop loss. In the coming days, it is necessary to monitor the price on the Moscow exchange, how the Russian regulator will act. I do not think that he will allow a panicky fall in the price of the ruble, but he will also not take significant measures until the ruble drops to 80.
You can enter the deal after a small rebound in the price after this impulsive fall of the ruble with a small stop loss. In the coming days, it is necessary to monitor the price on the Moscow exchange, how the Russian regulator will act. I do not think that he will allow a panicky fall in the price of the ruble, but he will also not take significant measures until the ruble drops to 80.
Trade active:
The ruble is falling. All according to plan. After overcoming the price of 80, the regulator will take effect. Then it will be possible to jump the rocket. In April, the situation will be even worse for the ruble, as oil is pouring into the market when the contract with OPEC is completed.
Comment:
The ruble will be supported by sales of the currency by the Ministry of Finance within the framework of the budget rule, as well as by an increase in the demand for ruble liquidity from exporters on the eve of the peak of tax payments due on March 25