Now we are at the upper border of the ascending corridor, with a greater degree of probability, at least a correction awaits us. Now is a good entry point to try short positions. . Deal: Short - 78,8 Stop - 79,3 Take - 77,2 RISK|PROFIT: 1|3 . Good Luck have fun!
Low time frame channel I'm watching. What comes first: breakout or 72ish?
Still in hedge short to protect US stock profits, but from the looks of $ES and $CL $USDRUB is going to 100. Could test the middle of the channel like it did last time or breakout from the falling wedge shortly. Ready to flip long.
$USDRUB at the overbought line could signal: - Stronger rubble vs dollar (temporary throw over possible) - Most other assets recovery (fear at max, 6% us stocks below 200MA). 1:1 Hedge short for US market exposure.
Last nights breakout yielded a 4.5% move. Tonight the USD/RUB remains supported, suggesting another imminent breakout towards 67.75. In the event of a bounce, targets move back to 73.50
The USDRUB triple support confluence should be a meme. So perfect, so nice. 70RUB+ is pretty much a certainty.
Both 69.000 and 66.000 got hit as USDRUB first rose and the pulled back within the 1W Channel Up (RSI = 59.930, MACD = 1.888) to price a Higher Low at 64.900 (Highs/Lows = 0.0380). The next Higher High should be near 74.000, so our long TP is a little lower at 73.000.
EURRUB has priced a Higher Low (Highs/Lows = 0.0000) on the 1D Channel Up (RSI = 55.818, MACD = 1.078) and is now technically ready for a Higher price. The Higher High extension is 82.930 but we will be a little more conservative with the long targeting 82.000 (previous Higher High).
Over the past few days, the Russian ruble has lost about 10%. In a natural way, this attracted considerable interest to it. So, we need to talk about the current and medium-term prospects of the ruble. The current decline in the Russian currency is the result of a few factors. Both internal and external ones. Let's list the key theses and give some explanations...