RUBEUR trade ideas
EURRUB - 240 - Wait for the exitTrade idea
After a strong reversal to the upside from the 70.844 level, the pair has slowed its acceleration slightly.
We are waiting for the rate to break one of the highlighted areas, in order to consider a further directional move.
Please see the chart for details.
Don't forget your stop-loss.
#RUBEURTime zones are specified;
If you climb to the yellow range you can go
If you fall, you can go to red areas
EURRUB: Sell opportunity on 1W.The pair has been trading inside a very clear 1W Channel Down (RSI = 42.482, MACD = -0.781, Highs/Lows = -0.2727) since the start of 2019. Clear Lower Highs (for sell entries) and Lower Lows (for exits). Such is the most recent rejection at 73.3540. We are short targeting 71.700 which is the 1M Support (Resistance until April 2018, Support since and until this April). This is a cautious trade as despite the marginal cross of this 1M Support on April 22, it still has the capacity to initiate a new long term bullish sequence above 79.00 - 80.00.
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EURRUB - 240 - Wait for the popTrade Alert
EURRUB has been in a downmove since around the second half of December. Our oscillators once again suggest that the pair is oversold on the shorter timeframe. But before the bulls could jump back in again, ideally, a break through the downside resistance line and a push above the 72.327 level would be required. This way we could target slightly higher areas.
But until such a move happens, we cannot get comfortable with the upside yet.
Please see the chart for details.
Always have your stop-loss in place.
EURRUB Long term buy signalsPattern: Ascending Channel on 1M.
Signal: Bullish (two entries) inside the long term Buy Zone (green).
Target: 80.600.
EURRUB - Daily - The Ruble is trying to fight backLooking at the overall picture on EURRUB, the pair had a good run in December, where the Russian Ruble devalued against the common currency. 2019 has started with the Ruble trying to recover some of its losses agains the Euro.
It like the pair might continue traveling further down, but only if it breaks below the 77.330 support area. This way, we can start targeting the medium-term upside support line, which started off in July and could be a good area for a test. That said, if the upside line continues to hold, then we might see the bulls stepping in again, in order to take advantage of the lower rate, which may lead to another leg of buying.
In order to start examining the downside from the long term perspective, we need to see a clear break below the aforementioned upside line and also the rate would have to fall below the 75.12 area. This way we could get more confident in the downside scenario.
Please see the chart for details.
Don't forget your stop-loss.
EUR/RUB 1H Chart: Previous forecast at workThe previous forecast worked, and the EUR/RUB currency pair has reached the lower boundary of a long-term ascending channel located circa 74.70.
As apparent on the chart, the exchange rate is trading near given channel line. From a theoretical point of view, a reversal north should occur in the nearest future. An important resistance level to look out for is the Fibonacci 23.60% retracement at 76.71.
By the large, it is expected that the currency pair targets the upper trend line located in the 83.50/85.00 range.
However, technical indicators suggest that this advance might not be immediate, and the pair could re-test the lower channel line.
EUR/RUB 1H Chart: Downside potential likelyThe common European currency has declined significantly against the Russian Ruble after the pair reversed from the upper boundary of a long-term ascending channel at 81.77.
Currently, the exchange rate is re-testing the support level formed by the weekly S1 at the 75.17 mark. Given that the 55– and 100-hour SMAs are located above the price, a breakout through the support level is likely to occur within the next trading sessions.
By the large, it is expected that the currency pair continues its decrease until the lower channel line in the 74.50/75.00 range is reached.
EURRUB: Monthly Channel Up near a Higher Low. Long.EURRUB is trading on a very long term 1M Channel Up (RSI = 58.841, MACD = 1.999, Highs/Lows = 1.2013, B/BP = 6.7532), which is near pricing a Higher Low (est. 74.855). Buying here is a good long term investment with three targets, 80.645, 81.965 and 82.930.
