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Euro / Russian Ruble

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EURRUB trade ideas

EURRUB UP D1After a huge growth that began after the New Year holiday, the EURRUB currency pair made a strong downward movement and almost returned to its original positions. But recent events in Russia related to the vote on the change of the constitution, began to question the stability of the Russian currency. The media are talking about a possible devaluation of the Russian currency. And there are a number of significant reasons for this. This is the situation associated with the global epidemic, and the instability of the commodity market, and changes in the political and constitutional system of the country. Also, the European Union is starting to recover after serious problems associated with quarantine. The growth of the Euro can be seen in relation to many world currencies. The same is for the EURRUB currency pair
Long
by StrongBull777
The euro is starting to gain momentum against the RUBThe euro is starting to gradually gain momentum against the Russian ruble despite the conditions in the oil market. However, looking at it, it appears that the bearish traders are on the defensive and are most likely to remain there because of the rising number of new coronavirus infections across the globe. This is because the Russian ruble is a commodity-linked currency, its direction affected by the status of oil prices. And considering that the number of cases is rising once again, it could slow down the recovery of the crude demand and prices. Earlier this month, the Russian ruble was dubbed as the underdog in the currency market, and it is proven that it has resilience as it continues to prevent the euro from snatching massive gains in the previous weeks. The pair is widely projected to head upwards in the coming days, but it will be a gradual journey. As of writing, the ruble is pressured by the decline in Moscow’s stock market.
Long
by Financebroker
Interest rate cuts to Post-Soviet record low ratesDiscussions about possible interest rate cuts to Post-Soviet record low rates have surfaced, this places the disadvantage towards the Russian ruble in the foreign exchange market. The euro to Russian ruble trading pair is now widely projected to climb to its resistance level despite the support that bears should have gotten from the commodity market. Looking at the charts, it’s evident that the pair is highly bullish considering that the 50-day moving average is significantly higher than the 200-day moving average. The weak economic prospects from the IMF for the outcome of the Russian economy are raising speculations on whether the central bank will step in to offset the alarming economic slump. Bullish investors of the pair are closely waiting for the Bank of Russia’s interest rate decision that is due later this week around Friday. This will be monumental as the bank has previously raised its short-term rates to counter inflation.
Long
by Financebroker
EUR/RUB will continue to move higher in the following daysThe pair will continue to move higher in the following days after a strong bounce back from a key support line. Brussels is considering opening the European Union’s external borders on July 01. The move is expected to propel the economy of the largest trading bloc after the slow down brought by the “Great Lockdown”. Aside from this, the EU Commission already allotted $826.0 billion for its economic aid. Meanwhile, in Russia, the coronavirus economic impact is yet to be felt. Russia’s Q1 GDP growth slowed down to 1.6%. However, a grimmer Q2 result is expected by analysts at -9.5%. Furthermore, the third and fourth quarter figures are also expected to be in negative territory at 6.3% and 5.2%, respectively. Russia will also suffer from the increased oil production cut in the coming months. The OPEC+ punished Moscow’s failure to live up to its promise to decrease oil production back in February, which resulted in oil prices trading below zero.
Long
by Financebroker
EURRUB H1Europe began to rebuild its economy after quarantine. The business has begun to show its activity, and cash flow is beginning to increase in the interior of the country, which stimulates the euro to grow. Lately, Russia has artificially strengthened its ruble. EURRUB couple even closed the gap, which was unlikely, given the current situation in Russia. But Russia is still far from high indicators, because there are a number of problems and instability in the commodity market, which is the main one for the economy. Therefore, it is too early to speak about the stability of the ruble.
Long
by StrongBull777
2
EUR/RUB SCENARIO. BREAKOUT EXPECTATION. SMALL LOCAL LONG The pair is trading in the triangle which is also a bullish flag. With the oil that low and the ruble being an oil currency, one might expect a bullish breakout. There is a small local long inside the triangle, but I would actually hold it, waiting for the bullish breakout and add to the position then as the positive balance of the first one will give me a good average price. To be updated! Guys, if you like my work, please like and subscribe for more material! Wish you best of luck in your trading!
Long
by ProSignalsFx
5
The euro slumps following the recent newsThe euro slumps following the recent news about a court ruling that challenges the participation of Germany, one of the biggest economies in the eurozone, in the unified stimulus program for the block. Actually, looking at the fundamentals, it appears that the odds are in favor of bearish investors as oil prices bounce back and investors continue to worry about the gloomy sentiment regarding the global recovery. The Russian ruble is projected to strengthen soon as prices of crude in the commodity market gains yet again, with the WTI crude oil futures climbing to beyond the $25 mark this Wednesday. Take note that the Russian ruble is a commodity currency and its direction is correlated with the stability of the crude market. Moreover, the Russian economy proves its robustness as it records stronger than projected figures from the previous reports. And later this week, investors also waiting for further guidance from scheduled reports from Russia.
Short
by Financebroker