Euro / Russian Ruble
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Trade ideas
EURRUB 4H Chart: Continues to surge The common European currency has been trading in a long-term ascending channel against the Russian Ruble. The pair bounced off the lower boundary of a dominant channel on April 19, 2017, and has since reached a new high.
A strong support cluster set by the weekly pivot point with the combination of the 55– and the 200-hour SMAs was providing support near 69.70 as it can be observed on the chart.
As for near future, the EUR/RUB currency exchange rate is likely to continue moving upwards for a test of the upper boundary of a junior pattern where the monthly PP is located.
EURRUB entry Following my previous EURRUB idea, you can use this one to enter for that longer term trade! Enter when and if the following happens;
Price is above the moving averages
Moving averages have crossed with the higher one at the bottom
The red DI on the ADX is above the green
ADX above 20
Preferably this all occurring outside the red box
EUR/RUB 4H Chart: Stopped reboundThe common European currency recently revealed a large scale ascending channel pattern against the Russian Ruble. The pattern was discovered, as the currency exchange rate did a rebound against the lower trend line of the pattern.
Moreover, the rebound has occurred in a small scale channel up pattern. However, the pattern has already encountered the resistance of a medium term channel down pattern. In general, the situation is quite complicated.
In regards to the short and medium term, one should look at the region near the 69.50 mark. If a rebound occurs, a new medium scale pattern will develop. On the other hand the pair might decline down to a massive scale support, which on Tuesday was located at the 69.00 mark.
shortone reason is the double doji in month chart time frame on eurusd and because oil is in a potential uptrend
EUR/RUB 4H Chart: Channel UpThe common European currency is surging against the Ruble in an ascending channel pattern. Although the pair has already bounced off the upper trend line of the channel, it has not begun to form a new short term descending pattern. Instead the Euro found support in the 38.20% Fibonacci retracement level at the 67.71 level against the Ruble. As a result a surge began, which is reaching for the next Fibonacci retracement level above the 0.72 mark. However, market participants should be careful, as a decline of the pair, before reaching the retracement level, is a highly possible scenario.
EUR/RUB 1D Chart: Rising WedgeEUR/RUB 1D Chart: Rising Wedge
The common European currency is appreciating against the Russian Ruble in a four month long ascending channel that has recently began to transform into a rising wedge.
Formation of the wedge began, when the currency exchange rate tried to slide to the bottom trend-line of the channel for the second time.
During the yesterday’s trading session the currency rate broke though the monthly and weekly R1 amid the news from the OPEC meeting in St. Petersburg.
This advance suggests that the rate might reach the monthly R2 at 71.3648 already by end of the month.
A combination of this pivot point with the pattern’s resistance line should give an impulse strong enough to push it out of the formation.
Nevertheless, the above scenario might be hampered in case the US will impose new sanctions against Russia, which will lead to a spike of the Ruble at least in the short run.
SHORT EURRUB- Trump factor - Aug'17 ShortBack to broken trend line so looking to get short again.
~9% interest rate for holding Ruble could be useful if this works as long term trade.
EURRUB - Daily - Observe.So, in my previous post I've mentioned the target in the circled area, which we reached. Good profits. You can check out my previous analysis on this below in the related ideas section.
Now the next step is, will it continue climbing up the channel or will it break it and give us some new levels on the downside? At the moment it is difficult to say as it is flirting with the bottom side of the channel. We need a good strong bar to the upside or a good close of a Weekly below the channel.
My preference would be to the downside as I would like to see some weakness in the Euro. But hey, it doesn't matter what I want.
As always, keep an eye on the price action!
EURRUB - Daily - I really like this chart.For those who are interested in something more exotic, then this is pretty looking chart.
I have done some analysis on it previously, where I identified the channel, but thought that it will break it and continue the downfall. Still ended up in profit, by shifting my stops.
In this situation, I think that there is a good chance for this pair to retrace at least to 69.85 level, and then maybe lower. But one step at a time.
I recommend to wait for today's Daily candle to close and then enter the position.
You can place a SL just slightly above yesterday's high of 72.094, around 72.15 (just in case this doesn't work out).
TP at 69.85.
Keep an eye on the price action!
EURRUB - Daily - One of my favoritesSo this pair is one of my favorites to watch and trade sometimes.
I believe that the Rubble will get stronger in the short-run. At the moment, it seems like it's stuck in this upward channel. Will it break it at the bottom or will it continue rising? We will just have to wait and see. In the mean time, I think we will test the bottom trend.
This could be a good trade for keeping a longer position.
As always, keep an eye on the price action.
EURRUB EUR RUSSIAN RUBLE ----- DRAGHI MAYBE WILL EFFECT POSITIVENOW FIBO 0 618 REC. YOU CAN SEE BUY LEVEL...
EUR/RUB – SHORTOn a long-term basis short. Because of a threatening 3. World War between Europe and Russia.
EURRUBThe pair is correlated with oil, we think a pull back of the oil price in area 49/51 $ will move the pair in 69.00/68.00 area. The trend continue to be in favor of the Ruble, thanks to the medium term target of oil.
