The weekly price floor of the ruble will definitely be tested again (0.006544).
The price at its weekly bottom is completely empty of buyers. Shadvi Boland is also a confirmation of this.
But now is not the time
At this time, due to the Israeli-Palestinian war, the ruble has a price break and can experience growth.
But Russia is getting weaker and weaker.
Not...
The USDRUB pair is trading on a Fibonacci Channel Up with the 1D MA50 (blue trend-line) providing the first level of Support. Coming of a 1D MACD Bullish Cross, the price is on the 3rd mini Channel phase (orange) within the 1.0 and 1.5 Fibonacci levels, same as the previous (green) has been within 0.5 - 1.0 Fib and the one before (blue) within the 0.0 - 0.5...
USD:RUB is now re-testing last months high of 73:1, which has been an area of interest since early 2020.
Having formed a bullish wedge in the process, if broken upwards, 75:1, 78:1, 80:1 are logical targets for ladder sells. Technically, classical charting principals dictate a target of 85, which coincides with the last real area of historic price action for...
Short term:
USD/RUB right now in resistance zone MOEX:USDRUB_TOM (95.5).
DXY right now touched strong resistance area TVC:DXY (104.5).
But globally:
RSI in USD/RUB show great correction that mean unloading before next rising moves.
RUB continue feel heaviness by no investments.
Government have no critical ideas to solve the problems.
My position:
I wait...
Based on the current wave structure of the impulse, there's a possibility for the correction to continue, especially if the price doesn't secure a position above the moving averages. A potential target for this correction could be in the region of 89.
Price has reached strong fibo level (96.64) and we can see bearish 1 Week engulfing candle forming that shows selling presure.
Generally what is happening? I draw 2 scenarios how price can act in the nearest future.
1 scenario: price will revers at about 97 rubles or 113 rubles by making sellers liquidity area and will head down to grab buyers liquidity (...
No new known macroeconomic factors could cause the current ruble devaluation. They say sanctions, some say a drop in imports ECONOMICS:RUIMP , others drop in exports ECONOMICS:RUEXP , brain drain, discounts on Russian oil, etc. Some blame the Prigozhin mutiny, but it doesn't change economic or political perspectives of Russia.
In my opinion, all these factors...
MOEX:USDRUB_TOM hit the top of the channel and should turn around and start a correction phase.
Two scenarios of the events development before the next iteration of growth are seen by me:
Scenario 1: FX_IDC:USDRUB ::81.4->70::+14%::Jul 2023
Scenario 2: FX_IDC:USDRUB ::81.4->64::+21%::Jul 2024
Does not constitute a recommendation.
#investing #stocks #idea...
Here is a very meaningful Target for USD-RUB, by step-by-step Targets!
Then, we may Possible reach (there) high. Ruble supposed to strengthen after that. Rather sooner than later.
Likely diagnosis
The analyst believes that the price of 'RUBUSD will be ' Bearish' from Aug 09,2023 to Jan 22, 2024, with a stop loss of $0.01546
What is the take profit target for this analysis?
The profit limit is time-based, so we will have to wait until Jan 22, 2024 to see what it is
Stop loss ?
The Descending analysis will become invalid if the price...
