As widely expected USDRUB selling off from the 64.2x highs and a good time to collect half our chips from the table. Well done sellers, a textbook zigzag and flawless trade since the channel breakup so far. The spike was a textbook flushout with US sanctions acting as the catalyst.
For those tracking the previous diagrams the flows are wide open in the...
As widely expected we got a test of the highs at 64.2x once the channel was broken (see diagram). The ladder is light and I like to play this tight range and look for a test of the lows.
"Eyes here, looking to sell 64.2x on the day..." - This is currently in play, although risk is showing now signs of abating the low sizings are keeping a test of the lows on...
I will keep this one quick as it is Friday afternoon... its clear that high beta has been in demand from some faster hands of late. Nothing of meaningful weight in the ladder, I think we will test the highs before pulling back. Another technical break to the topside in play with some strong US data. This looks set to test the highs in USDRUB for now. Tactical long...
A very advanced playing field in commodities and commodity currencies and with offshore sharks on the sell side in USDRUB there is a lot more room to go. The highs at 63.50 will act as strong resistance while to the downside initial targets located at 62.7x, 61.5x and the final swing clear at 60. This is the same levels from the previous diagram:
No surprises...
I expect the reversal soon as strong bullish divergence has been accumualted on MACD
and the price almost reached the trendline support, which was awaited earlier (see related chart).
The wave Y (yellow) could rocket to the RUB 76 area where Y=W.
It will be a huge devaluation.
The first global target of RGBI is 157,89 that means that INDEX will continue rise that lead to strengthen of RUB . it might be the last strengthen. However there is probability that both RUB and RGBI have already reversed.
Quick idea.
USDRUB had broken two downside lines - a short-term one and a medium-term one. Now, the pair continues to drift further north. Certainly, at some we may get a bit of a correction, but for now, we will continue targeting the long-term downside resistance line taken from the highest point of December 2018.
Please see the chart for details.
Don't...
Pattern: Channel Down on 1M.
Signal: Bullish and bearish reversal once the MACD shifts to bearish. Ideally near the red resistance zone.
Target: 61.000.
Price overall still has bearish sentiment. The 200 MA on the daily has been serving as dynamic resistance since October 2019. Price is currently rejecting the 61.8% fib level. Unless price breaches the trendline as noted, watch for drop to next level as noted.
Now bull's reserves have been activated and exhausted, the diagonal swing towards the new lows at the key 60 handle is the aim. This momentum play is a characteristic impulsive swing. The moves constitute a great example of the lust to exploit the brilliant effect of technical analysis, because of the accuracy that is endowed with incredible resilience.
The...
Chart USDRUB W. Global outlook for 2020. An interesting point on the chart. It seems that the ruble is completing its strengthening. By the end of the year I expect the ruble per dollar in the region of 74-76 rub.
