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EURRUB

EURRUB 4H (temporary uptrend - be carefull)The current uptrend is just the wave (B) of (ABC) and afterwards the pair will go down one more time to 88,5-87,5 (the buy zone) prior to the major depreciation of the rubble, what is in line with the last up-wave on most of the markets. So in general, the Russian rubble is not ready to devalue at this time and will start depreciation together with the major correction on all the markets which I presume to start at the end of May-June 2021 and last till October 2021
Long
by profilart
The worries about Joe Biden’s presidencyThe pair will continue to move higher in the following days towards the 100.000 price area. Despite the stagnant growth in the European Union, investors of the EUR/RUB pair will go long amid the worries that Joe Biden’s presidency will be disastrous for the Russian economy. During the 2016 US Presidential Elections, Russia was accused of meddling which eventually led to the election of Donald Trump. Over the next four (4) years since the 2016 election, the US pulled out from major accords including the Paris Agreement and the TPP (Trans-Pacific Partnership). However, president-elect Biden promised to rejoin the Paris Accord on his first day in the office. This gesture is expected to reconnect the US with its allies in Europe. As for the current situation in Russia’s economy, the outlook was still bleak. Industrial Production report for the month of October declined by -6.1%, steeper than the -5.0% slump recorded in the prior month.
Long
by Financebroker
An uneven growth of the Russian economyThe pair is expected to break out from its January 2016 resistance line, which will send the pair higher towards the 100.000 price level. The Russian economy showed uneven growth in its recent reports. Retail sales decline by 3.0% in September with service production plummeting by 12.0%. The number of new car sales, on the other hand, went in the opposite direction and grew by 3.0%. Housing construction increased by 6.0% YoY but the unemployment rate ballooned to 6.3% of the country’s workforce. The household income also went down by 5.0% in Q3. This suggests that although manufacturing and construction began to slowly recover, consumer’s confidence was still low. On the other hand, the mixed results from the European Union should not be misinterpreted as a decline in growth but rather as a slow recovery. Germany, France, Italy, and Spain all posted better-than-expected results for their gross domestic product reports for Q3.
Long
by Financebroker
The January 2016 resistance lineThe pair will fail to break out from its January 2016 resistance line, sending the pair lower towards an uptrend support line. Germany is expected to post a 6.4% unemployment rate for the fourth consecutive month today, September 30. In addition to this, analysts are expecting a negative change in unemployment for the current month at -8K. This suggests that the EU’s largest economy is struggling to return to its normal economic health despite containing the virus. For investors, the recent figures mean that Germany’s economy is not recovering. On the other hand, Russia recorded it’s highest one-day increase of COVID-19 cases in more than three (3) months with 8,135 new cases. Despite this, the country was seen expanding its trading deals with other countries including Belarus, South Korea, and Japan. Currently, it accounts for almost half of Belarus’ foreign direct investments (FDI), and its trade deal with South Korea is nearing $25 billion.
Short
by Financebroker
The political tensions in BelarusThe Russian ruble remains vulnerable against the euro and prices of the exchange rate are projected to climb towards their resistance level very soon. The political tensions in Belarus are the main fundamental that’s affecting the confidence of the Russian ruble and its investors. Just recently, it was reported that two opposition members were jailed. Olga Kovalkova and Sergei Dylevski are both known members of the National Coordination Council. Reports say that they were set up by the exiled opposition leader Svetlana Tikhanovskaya following Belarus’ widely discredited presidential poll. Alexander Lukashenko has claimed a fresh term in the office even after 26 years in power. However, both the United States and the European Union rejected the August 9 vote, saying that it’s neither free nor fair. Moreover, the bloc’s single currency is also facing some volatility as its strength is linked to the greenback’s fluctuating strength.
Long
by Financebroker
EURRUB ona weekly double top resistance 🦐The market hasn moved up near the zone of the previous high created in march 2020. Currently the price hit the resistance and is looking for a correction. If the price will break and close below the 4h structure, at the retest of it we can set a nice short order according with our strategy. ––––– Follow the Shrimp 🦐 Here is the Plancton0618 technical analysis, please comment below if you have any question. The ENTRY in the market will be taken only if the condition of Plancton0618 strategy will trigger.
Short
by InkyGrip
2
The Russian ruble is in a tough predicament against the euroBut bearish investors are looking for ways to recharge the commodity-linked currency in the trading sessions. The euro to Russian ruble exchange rate is forecasted to go down to its support level as bears hope for support from Russia. Just recently, it was reported that the Russian government is seeking to add around 1.9 billion US dollars in taxes from oil and gas. Reports say that the finance ministry of the country is looking to gain more tax proceeds by officially amending the tax code and the profit-based tax. This creates a rift between the government and the Russian oil industry, but bears are hoping that it could generate more funds to support the economy and buoy the ruble. And as for the euro, the notable performance of the eurozone’s economy is buoying the single currency against the Russian ruble, putting up a much tougher fight for bearish investors.
Short
by Financebroker