ridethepig | RUB Market Commentary 2020.01.09
Updated
Here markets are starting to see shorts pick up momentum, this has been a very very easy ride so far since our initial entry (see diagram):
Oil has drastically sold off, and risk sentiment in the M.E is fading. While we failed to clear 70 we managed to unwind some at 65 on the Iran spike. No reason to change course here yet, market sits itching to breakdown. Remain on the sell side.
Tracking closely for the flush in USDRUB to 60 with NFP tomorrow to kickstart the next iteration in flows. For the flows: Sell LMT Entry 61.2 | TP 60.0 | SL 62.0
... It is the same story in EURRUB as we complete the final few ticks:
GL those trading RUB into NFP.
Oil has drastically sold off, and risk sentiment in the M.E is fading. While we failed to clear 70 we managed to unwind some at 65 on the Iran spike. No reason to change course here yet, market sits itching to breakdown. Remain on the sell side.
Tracking closely for the flush in USDRUB to 60 with NFP tomorrow to kickstart the next iteration in flows. For the flows: Sell LMT Entry 61.2 | TP 60.0 | SL 62.0
... It is the same story in EURRUB as we complete the final few ticks:
GL those trading RUB into NFP.
Note
Nothing to update here, same flows and same targets.
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