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U.S. Dollar / Russian Ruble TOM

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USDRUB_TOM trade ideas

USD/RUB will reverse back towards a major support lineThe pair will reverse back towards a major support line after it failed to break out from a major resistance line. The Russian ruble will strengthen against other currencies following the decision by the country to halt its foreign currency intervention. Russia has been lowering its currency intentionally after the oil price war between Russia and Saudi Arabia led OPEC (Organization of the Petroleum Exporting Countries). However, this is about to change after reports that US President Donald Trump intervened between the two (2) oil-producing giants. The efforts by Trump were concentrated on increasing crude oil prices. Oil companies in the US reported significant losses following the oil price war and the US president cannot afford to have two (2) problems altogether. The US is also experiencing problems with handling the economic impact of the deadly coronavirus. Airline companies have already asked for assistance from the US government.
Short
by Financebroker
Can you see the roof yet ?Those who are already in many USD pairs should take comfort that their long positions have gained them good profits. And one must never be too complacent and expect the market to behave in a certain way. The market is full of surprises and it often launch its attack at time that you are not prepared for. Depending on where you have bought into this USDRUB, I would say, take partial profits and let the remaining positions run to its course. A look at the weekly chart always remind me of the parabolic moves by the cryptocurrency and I had learnt my lessons. A bird in hand is worth two at the bush. What's the point of boasting $xxx amount of paper profits where you can't use it ? Isn't it better to have $xX amount in your bank where it can help to defray some of your expenses? Of course, if you have a long term view , then by all means continue to hold. I am not motivated to add any long at this juncture IF I have not participated in this pair. So you have to decide for yourself your reason for buying this pair.
Long
by dchua1969
USDRUB 90?In the previous forecast, I said that there will be an increase to 80. Also, by popular demand, I am doing a new review. And so now the price is trading at 79.9. Recently, the price of oil has shown an increase of 10%. And I immediately received a lot of messages in a personal question with the question will the ruble grow ?? I will publish the answer here. The price of oil fell 3 times. And showing growth of 10%. And I think it’s very stupid to wait for the ruble to grow. Also, besides nafta, look at the situation as a whole. According to the calculations of Gazprombank, the oil price of $ 25 per barrel corresponds to the exchange rate of 80-85 rubles per dollar. If you look at the technical analysis, then we are trading at the ascending channel, and there is a fractal situation on the chart, everything is indicated. Also very often asked, will the ruble be 90 rubles? I admit that with a further decline in oil prices, the dollar may test a level above 90 rubles. P.S Friends, support this idea with your like and any comment.
by CHOWTRADE
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