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Euro / Russian Ruble

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EURRUB trade ideas

EURRUB 4H (temporary uptrend - be carefull)The current uptrend is just the wave (B) of (ABC) and afterwards the pair will go down one more time to 88,5-87,5 (the buy zone) prior to the major depreciation of the rubble, what is in line with the last up-wave on most of the markets. So in general, the Russian rubble is not ready to devalue at this time and will start depreciation together with the major correction on all the markets which I presume to start at the end of May-June 2021 and last till October 2021
Long
by profilart
Looking for a possible push up on EUR/RUBLooking for a possible push to the upside for EUR/RUB after price broke structure to create an higher high, came back for a retest and currently finding support at the most recent swing high on H4 time frame. Additional confluence include, 70.5 fib level, Major QP and pin bar candle stick formation. I'll go down to a lower time frame to look for a break of structure to the upside which will signal H4 trend continuation before entry.
Long
by Meffy_fx
EURRUB H4The Russian ruble in the context of a global pandemic made a strong fall in relation to the first world currencies, the dollar and the euro. The low oil price and the unstable situation with the Russian economy made it impossible to stay at a stronger level. The central bank was forced to let the ruble float freely. And this led to its collapse. Stimulus programs in Europe and the US are likely to continue to strengthen the first world currencies. And this trend is likely to sink the ruble even more. Because the recent rise in oil prices is the only plus for the Russian economy, which already works mainly due to the commodity market.
Long
by StrongBull777
6
The worries about Joe Biden’s presidencyThe pair will continue to move higher in the following days towards the 100.000 price area. Despite the stagnant growth in the European Union, investors of the EUR/RUB pair will go long amid the worries that Joe Biden’s presidency will be disastrous for the Russian economy. During the 2016 US Presidential Elections, Russia was accused of meddling which eventually led to the election of Donald Trump. Over the next four (4) years since the 2016 election, the US pulled out from major accords including the Paris Agreement and the TPP (Trans-Pacific Partnership). However, president-elect Biden promised to rejoin the Paris Accord on his first day in the office. This gesture is expected to reconnect the US with its allies in Europe. As for the current situation in Russia’s economy, the outlook was still bleak. Industrial Production report for the month of October declined by -6.1%, steeper than the -5.0% slump recorded in the prior month.
Long
by Financebroker
An uneven growth of the Russian economyThe pair is expected to break out from its January 2016 resistance line, which will send the pair higher towards the 100.000 price level. The Russian economy showed uneven growth in its recent reports. Retail sales decline by 3.0% in September with service production plummeting by 12.0%. The number of new car sales, on the other hand, went in the opposite direction and grew by 3.0%. Housing construction increased by 6.0% YoY but the unemployment rate ballooned to 6.3% of the country’s workforce. The household income also went down by 5.0% in Q3. This suggests that although manufacturing and construction began to slowly recover, consumer’s confidence was still low. On the other hand, the mixed results from the European Union should not be misinterpreted as a decline in growth but rather as a slow recovery. Germany, France, Italy, and Spain all posted better-than-expected results for their gross domestic product reports for Q3.
Long
by Financebroker