zevgma

Is ruble's rally slowing down?

FX_IDC:USDRUB   US DOLLAR / RUSSIAN RUBLE
414 3 3
This case is very similar to the one with the European currency versus the one of Russia. The latter have been showing strength since the late January and, from technical perspective, this is about to end quite soon. I expect prices to hold and consolidate around 70 rub. for a while before finally bouncing up towards 100 psychological level, which, if everything goes as planned, we may see as soon as in July 2016.

It seems like this may be a good time to start selling Russian currency in favour of that of the U.S. Although I'll watch for a confirmation and a better entry point and will keep you informed.

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1alex34608
9 months ago
But if we hit 70, we meet at the level of 63?
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zevgma PRO 1alex34608
9 months ago
Hard to tell, Alex. But as of now, the pair is more likely to turn north. If you think of that, Ruble has been getting cheaper relatively to the currencies of developed countries ever since the break of the USSR, namely - since 1991. What's more, cheap Ruble is good for Russia's economy (not for Russian people, though, who buy everything from abroad), because it's export-oriented. So I will not be surprised if we go even cheaper and hit 100 and more in the years to come.
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1alex34608
9 months ago
Well. Let's see the developments!!!
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