ridethepig | RUB Market Commentary 2020.02.14
Updated
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 on a breakout recommended.
You will notice how we never got the breakdown:
Buyers came in strong and seems happy to play the topside for now. A push from local banks in Russia as capital begins to pour back in will be enough to get us back to the 64.2 highs where I would look to cover and recycle shorts.
As usual thanks for keeping the support coming with likes, comments, charts and etc. Jump into the comments with your views on RUB!
You will notice how we never got the breakdown:
Buyers came in strong and seems happy to play the topside for now. A push from local banks in Russia as capital begins to pour back in will be enough to get us back to the 64.2 highs where I would look to cover and recycle shorts.
As usual thanks for keeping the support coming with likes, comments, charts and etc. Jump into the comments with your views on RUB!
Note
63.5 for the close... nothing to see here while we are stuck in the middle of a wide rangeNote
Eyes here, looking to sell 64.2x on the day...
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