Last week, we saw a huge short squeeze in oil and it seems that there could bee a opportunity for Crude's bulls.
The RUB lost a big part of its value due to the Global fall in commodity prices.
However if we believe RUB and Crude touched the bottom, then we could try a short USDRUB, or if you think EUR is going to be smashed by Yellen on September (or October, or...
EURRUB nearly reached its target. I exspect a pullback @ 69,5-70,3/71. The pullback max. niveau could be @ the former breakoutlevel @ 66,95. An overshootong till 73,25 is also possible.
former analysis.
The pair formed a new "3" @ 61,05 (you had to adjust the trendchanel) before the breakout level - the old valid "2" @ 63,6 could be taken out of the market....
The pair formed a new "3" @ 61,05 (you had to adjust the trendchanel) before the breakout level - the old valid "2" @ 63,6 could be taken out of the market. now the breakout is still going on (with its tp @ 67/70,5) but a bit overbought. A retest of the breakoutlevel @ 63,6 should be exspected or planned. good luck
former analysis:
If the pair can trade...
