If you checked the chart today you would be surprised with your correct take on Russia :cheesy:
It broke 60 today, highest since july 2015.
Not sure if it has a steam to push further..
Well definitely not suitable for scalping but for medium-term positions + positive forex swap... Quite lucrative option I guess.
Russian ruble.
Long term. Complete impulse wave up - five waves. Price rise is over. Now correction down is unfolding. Correction target - end of previous wave 4. By the way, wave 4 precisely divides the whole impulse in golden ratio 0.382/0.618 . This space will attract future price moves.
Now first wave down.
Impulse five waves, wave 4 is a triangle with parallel lines, wave 5 is over
or near its end. First move down is ending right now. Next move will get ruble higher to the end of previous triangle - wave 4, it is near 67 rub per 1 usd. Good time to BUY US dollar against ruble. When ?
Let us look at the last wave down - wave 5 out of triangle.
Wave looks complete, or, perhaps there will be the last small step down. Time to BUY right now.
So, BUY US dollar against US dollar with target - 67 rub or near. Reverse is already here or very close. Sell your BUY near 67.00 .
Move up will end and USD/RUB will continue to fall. There will be continuation until target 50 rub per usd.
You can get more detailed USD/RUB article at our page in "Products" area.
Long term. Complete impulse wave up - five waves. Price rise is over. Now correction down is unfolding. Correction target - end of previous wave 4. By the way, wave 4 precisely divides the whole impulse in golden ratio 0.382/0.618 . This space will attract future price moves.
Now first wave down.
Impulse five waves, wave 4 is a triangle with parallel lines, wave 5 is over
or near its end. First move down is ending right now. Next move will get ruble higher to the end of previous triangle - wave 4, it is near 67 rub per 1 usd. Good time to BUY US dollar against ruble. When ?
Let us look at the last wave down - wave 5 out of triangle.
Wave looks complete, or, perhaps there will be the last small step down. Time to BUY right now.
So, BUY US dollar against US dollar with target - 67 rub or near. Reverse is already here or very close. Sell your BUY near 67.00 .
Move up will end and USD/RUB will continue to fall. There will be continuation until target 50 rub per usd.
You can get more detailed USD/RUB article at our page in "Products" area.
Tracking Russian ruble.
Today is 10 january 2017 near 09-20 GMT, we continue ruble tracking.
As we have already noted in the previous posts, USD/RUB was ending its first move down, and we have said, that either move is already over, or the last short drop required. Today at the time of this article USD/RUB has dropped once again and very quickly rebound up, so we treat the final wave 5 down as complete.
We have already added our trading decision to BUY US dollar against ruble, decision was a bit premature, but we don't take the risk to lose opportunity and we didn't count much on the last drop, as these drops are volatiles as a rule and are hard to catch. You may see trading decision details at our page in "Decisions" area or at the "Products"->"Russian ruble".
We continue to track US dollar against Russian ruble here and keep our trading decision to BUY USD against RUB until the first target - end of previous wave 4 - about 67 rub per 1 usd.
Today is 10 january 2017 near 09-20 GMT, we continue ruble tracking.
As we have already noted in the previous posts, USD/RUB was ending its first move down, and we have said, that either move is already over, or the last short drop required. Today at the time of this article USD/RUB has dropped once again and very quickly rebound up, so we treat the final wave 5 down as complete.
We have already added our trading decision to BUY US dollar against ruble, decision was a bit premature, but we don't take the risk to lose opportunity and we didn't count much on the last drop, as these drops are volatiles as a rule and are hard to catch. You may see trading decision details at our page in "Decisions" area or at the "Products"->"Russian ruble".
We continue to track US dollar against Russian ruble here and keep our trading decision to BUY USD against RUB until the first target - end of previous wave 4 - about 67 rub per 1 usd.
arigoldman
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Bullish on this!
Today is 13 january 2017, we keep our position BUY usd against rub open.
As long as price holds above probable bottom of wave A(dark red label), we stick to our forecast - we are looking at USD/RUB reverse and rise.
Probable waves count is given on the chart above.
As long as price holds above probable bottom of wave A(dark red label), we stick to our forecast - we are looking at USD/RUB reverse and rise.
Probable waves count is given on the chart above.
By the way, this figure in any traditional brain-break analysis is called "Head and shoulders" and signals about reverse.
Watch oil and Trump if you want to see next rub movement, tech approach doesn't work as there is a participation from their Central Bank which allows depreciation but unlikely to tolerate excessive strengthening
