Greetings dear traders & investors!
To your attention we want introduces our long-terms technical view to Russian ruble.
As you see, Russian currency get a long term uptrend from 2014 and after ABC-move we start 1-5-move to 90. In 2021, when Biden was come a president of United States, we waiting a strong political and economics restrictions from him on Russian...
Longer term cycle is down as well as the medium term cycle. Medium term trend is down until June - what a coincidence - cycles for silver are UP until about the same period. That's no surprise silver has a correlation with Ruble. Russia is a large miner of all metals, and silver is in the list. When Russia sells their silver on the open market they receive dollars...
The RUB is getting stronger amid global weakness of USD (DXY) and rising crude oil.
Below RR 72 the move to the upside could be invalidated.
There is a chance that this drop could extend to the downside to build the large wave Y of WXY flat correction.
We saw such a drop in wave W before.
The minimum target is to hit the start point of wave X at RR 68.
Russian ruble's tests at around 80 seems to support the idea of further supply at and above this level. A further move towards 90 and above can be expected though the trend may turn afterwards.
Russia is an important commodity exports based country and oil is an important component of country's revenues. However, oil market outlook is not bullish and not...
RUSSIAN RUBLE / POLISH ZLOTY
Buy in the area of 0.0498 - 0.0486
Goal 1 - 0.0508
Goal 2 - 0.0520
Goal 3 - 0.0538
Stop, fixing below 0.0484
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Waiting for your comment, what do you think about this?
As I drew on the graph, there is some probability that we could see growth to 85-90 rubles for 1 dollar in the nearest future.
Also I suppose we could see flat instead if growth. I don't see any positives in RU economics. Exchange rate could become better only if US dollar become weaker, which I doubt in.
How do you think?
The price bounced off the Mirror Level and continued its up move.
The Support line wasn't broked, the trend is bullish - that's mean we should predict only buy trades here.
The potential profit will be 3 times bigger than the risk.
Push like if you think this is a useful idea!
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Write your comments and questions...
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