USDRUB This pair has held quite well in bouncing price off resistance. The formation of a nice uptrend is also remarkable. If the resistance should hold and price breaks to the downside, we may see more falling to lower levels.
USDRUB_TDB trade ideas
ridethepig | RUB Market Commentary 2020.02.19As widely expected USDRUB selling off from the 64.2x highs and a good time to collect half our chips from the table. Well done sellers, a textbook zigzag and flawless trade since the channel breakup so far. The spike was a textbook flushout with US sanctions acting as the catalyst.
For those tracking the previous diagrams the flows are wide open in the range, actively playing it makes complete sense to me in this environment:
Eventually expecting the grind towards the lows, risk sentiment around the COVID-19 will continue in the driving seat for further action here. Tracking closely 62.7x lows.
Thanks as usual for keeping the likes and comments coming!
ridethepig | RUB Market Commentary 2020.02.18As widely expected we got a test of the highs at 64.2x once the channel was broken (see diagram). The ladder is light and I like to play this tight range and look for a test of the lows.
"Eyes here, looking to sell 64.2x on the day..." - This is currently in play, although risk is showing now signs of abating the low sizings are keeping a test of the lows on the cards. Tracking closely the highs, if we get a breakup then I will not be stubborn and hold onto the shorts, I will close. This is a tactical range trade.
Good luck all those in USDRUB, we can open the short-term sentiment conversations in the comments if we get enough interest. Thanks as usual for keeping the support coming with likes, comment and etc!
ridethepig | RUB Market Commentary 2020.02.14I will keep this one quick as it is Friday afternoon... its clear that high beta has been in demand from some faster hands of late. Nothing of meaningful weight in the ladder, I think we will test the highs before pulling back. Another technical break to the topside in play with some strong US data. This looks set to test the highs in USDRUB for now. Tactical long on a breakout recommended.
You will notice how we never got the breakdown:
Buyers came in strong and seems happy to play the topside for now. A push from local banks in Russia as capital begins to pour back in will be enough to get us back to the 64.2 highs where I would look to cover and recycle shorts.
As usual thanks for keeping the support coming with likes, comments, charts and etc. Jump into the comments with your views on RUB!
The most perfect TA you'll ever seeThe USDRUB triple support confluence should be a meme. So perfect, so nice. 70RUB+ is pretty much a certainty.
ridethepig | RUB Market Commentary 2020.02.12A very advanced playing field in commodities and commodity currencies and with offshore sharks on the sell side in USDRUB there is a lot more room to go. The highs at 63.50 will act as strong resistance while to the downside initial targets located at 62.7x, 61.5x and the final swing clear at 60. This is the same levels from the previous diagram:
No surprises sellers were fired up and ready to act again. There is a lot of room to the downside should we find a bounce into March for Oil. Happy to sit short and looking for a technical break with the NY open.
Good luck all RUB bulls, as usual thanks for keeping the likes, comments and charts coming!
USDRUB eyes 76 after expected reversalI expect the reversal soon as strong bullish divergence has been accumualted on MACD
and the price almost reached the trendline support, which was awaited earlier (see related chart).
The wave Y (yellow) could rocket to the RUB 76 area where Y=W.
It will be a huge devaluation.
USD/RUB - SHORT The first global target of RGBI is 157,89 that means that INDEX will continue rise that lead to strengthen of RUB . it might be the last strengthen. However there is probability that both RUB and RGBI have already reversed.
Bullish Russin RubbleNot much to say, the trade is there for all to see. let us wait and see how it plays out.
Selling FOREXCOM:USDRUB
USDRUB longLongterm trade idea.
We see the Russian economy in shambles.
Add buys on every pullback.
Trust the process
USDRUB - 240 - Continues to drift higherQuick idea.
USDRUB had broken two downside lines - a short-term one and a medium-term one. Now, the pair continues to drift further north. Certainly, at some we may get a bit of a correction, but for now, we will continue targeting the long-term downside resistance line taken from the highest point of December 2018.
Please see the chart for details.
Don't forget your stop-loss.
USDRUB Buy and sell planPattern: Channel Down on 1M.
Signal: Bullish and bearish reversal once the MACD shifts to bearish. Ideally near the red resistance zone.
Target: 61.000.
USD/RUB Short IdeaPrice overall still has bearish sentiment. The 200 MA on the daily has been serving as dynamic resistance since October 2019. Price is currently rejecting the 61.8% fib level. Unless price breaches the trendline as noted, watch for drop to next level as noted.
