History doesn't repeat itself but it often rhymes. Ruble will likely experience another leg down. The main catalyst for such move is prolonged conflict with Ukraine, judging by recent news coverage.
SUMMARY: Short, however, Russian Central Bank looks to have a CCY floor around the $0.12 level.
Oddly, this is a similar price point to the Turkish Liar.
Seems like there are new US sanctions passing through Congress targeting the Russian financial system and debt instruments.
I am curious to see what direction we will break towards from this multi year triangle.
With increasing political, social and economic pressures mounting in the US, alongside emerging competitors on the global stage, fundamentally we cannot exclude a break upwards, from which we can potentially see a ~10 year trend culminating with a retest of pre-2014 levels of...
SUMMARY: Short, generally the RUB performance can be explained by unlucky events and massive US and Western sanctions.
If there were no sanctions, the RUB could probably be a strong rival to the EUR.
Buy Bitcoin, it fixes this.
Bitcoin analysis below:
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DO YOUR RISK MANAGEMENT AND MAKE SURE TO FOLLOW YOUR STRATEGY LIKE IF THIS WAS HELPFUL TELL US WHAT YOU THINK IN THE COMMENTS THANKS YOU
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CURRENT CONFIDENCE = 65%
TARGET (EXIT) PRICE = 0.014490 USD
BREAKOUT (ENTRY) PRICE = 0.014425 USD
DISTANCE TO TARGET PRICE= 0.07% (1.0 pips)
EMERGED ON Jun 25, 11:00 AM (UTC)
CONFIRMED ON Jun 25, 01:07 PM (UTC)
WITH CONFIDENCE LEVEL = 70%
Tickeron AI shows that the Cup-and-Handle (sometimes called Cup-and-Holder) pattern is formed when the price of a pair...
South Africa, Russia, Brazil have together almost 500 million inhabitants, India has 1.3 billion and China 1.4 billion. Together they are home to over 40% of all Homo sapiens :) and represent about 30% of global GDP. They hold about $4.5 tn in currency reserves.
IDC
