Zone between 72-75 it should be happen have resistance there to rubble to strong again but our sight on the biggest resistance like 90
For long term and take a managment
If a breakout out of the ascending pattern happens, we may see a bull run to 68-70. Note that breakout may happen not now, but after another small correction.
I don't believe there is much worth in T.A. on RUB pairs - it is a heavily manipulated and practically 'closed' currency. Clearly the government de-facto pegged it at around 60 so they could say they are stronger now than before the sanctions. However, it seems as though it has broken and backtested the wedge it has been trading in. 70-80 would be nice. Anyway, lets see.
The USDRUB has been trading within a 5 month Rectangle pattern ever since the price retraced from the start of the war High. The price made a High on October 11 and has been pulling back since but for the 7th straight session, it remains supported on the 1D MA50 (blue trend-line), which since late July has been trading around the Rectangle's middle (median), thus...
I'm of the opinion that the ruble will still go up and may even update the previous height.
But before this happens, I expect the price to decrease to 30-35 rubles (potential level of reversal to an uptrend).
I see two options for the ruble reversal at the peak
1. Either by reaching 50% of the candle shadow; (most likely)
2. or by updating the...
Comments are added for notable events.
This is a daily chart.
Let me know anything that would be good do add as note.
Wish there was a Ruble backed stablecoin!
We're looking at performance of Russian Ruble almost since start of its existence as a national currency of Russia.
How all of a sudden Russian currency gained in such way? Many factors aligned to make such move in a given period.
Central Bank intervention
Fiscal policy shifts
Cutting Russia out of supply of Western goods and services, meant that sum of...
pair is in correction to make an ABC
now we are waiting for more bear move before upside toward 38-50% fibo level of previous wave.
please see my previous analysis as below
Seems like the best interpretation of the USDRUB wavework is bullish for the time being. Will not even attempt to speculate about possible fundamentals. Sisyphean labor that is.
The Russian Ruble will follow the rest of the market. RTSI is already on its way to ~200..300. SPX and RTSI and all other indices will bottom out at the same time.
Note that none of the price action in RUB or RTSI is related to the events in Ukraine. It's all part of the global debt unwind. By the end of the crash the entire world will be bleeding heavily, and...
Ruble vs USD with Special Military Operation News in Chart including the recent Nord Stream event.
This is just for historical reference and not a political statement. The Ruble makes all the statement possible anyway : )
Enjoy.
Mind the long-term demand zone which is based on support parallel trendlines dragged from lowest points with its specific angle.
I'd long whenever price falls inside green area or breaks out above triangular formation.
