Both 69.000 and 66.000 got hit as USDRUB first rose and the pulled back within the 1W Channel Up (RSI = 59.930, MACD = 1.888) to price a Higher Low at 64.900 (Highs/Lows = 0.0380). The next Higher High should be near 74.000, so our long TP is a little lower at 73.000.
=> Very similar to the USDINR idea we posted, there is significant bearish divergence and the downside is unlocked for some testing.
=> Here we are playing into the 66.0988 and 65.0446 levels before anything else.
=> This is a corrective play across EM currencies, nothing more, nothing less.
While in Asia and USA come to their senses and calculate losses after hurricanes and typhoons, we will analyze the most anticipated events of the current week and pay attention to the most interesting trading ideas in our opinion.
Nothing super-ordinary is planned for the week, but there are still some events are of interest.
Trade wars do not even think to calm...
TA is suggesting that USDRUB will complete a countertrend rally up to 70 USDRUB. Most likely, the correction will resume to at least 61. 56 is also a probable target. There is also a possibility that we will go to the 10 year MA at 47.
If we stay above 71 for a few weeks, a new study needs to be made.
We have not yet seen a close above the 78.989 level so one cannot be fully bullish on this currency as it seems hard for investors to commit themselves going long near the 78 level. With the unease that currently looms over the Greenback, any negative reports will not crash the dollar completely as it will always reign supreme. I have not fully understood ...
USDRUB has broken the previous Rectangle on 1D to the upside (RSI = 67.004, MACD = 1.132, Highs/Lows = 1.0010, B/BP = 2.0066). However the currently High Volatility on 1D (ATR = 0.9168) as well as the overbought action on 1W (RSI = 73.797, STOCHRSI = 76.158, Williams = -15.552, CCI = 219.8375) indicate that the pair may enter another consolidation phase/...
USD RUB - Remain long, Consolidation is continuing to suggest strength in USD against the Ruble. This is on concert with other USD pairs such as the Lira.
Russia is certainly no joke. We have seen Ruble loosing value back in 2014 - 2015, many got chopped and diced during these very high volatility days.
Now the dust is settled and I am looking for a long setup $$$
Keep it tight - Keep it REAL!
The previously described ascending channel pattern of the EUR/RUB currency exchange rate was broken last week. With the breaking of that pattern a new massive scale descending pattern was revealed.
In the aftermath of the breaking of the channel up pattern a narrow ranged descending pattern, which represented the following plummeting of the Euro against the...
The US Dollar reached the previously set target at the 64.15 mark against the Russian Ruble. After reaching the target the currency exchange rate bounced off the resistance provided by the upper trend line of a medium term ascending channel pattern. The trend line was also strengthened by a pivot point level.
In the aftermath of the bounce off the rate has...
USDRUB was rejected on the 1D Rectangle's 64.256 Resistance (RSI = 52.926, Williams = -52.791, CCI = 5.3115, Highs/Lows = 0.0000). The price should continue lower (4H Highs/Lows = -0.4588, B/BP = -0.6594) towards the 60.600 Support. Our TP = 61.470.
Brent Crude Oil's drop could spoil WXY model of correction posted earlier.
It looks like we could have a Triangle instead as higher lows and lower tops appear on the chart.
