EURRUB_TOM trade ideas
EURRUB - 240 - Short-term uptrend is broken.Trade Alert
EURRUB has broken its short-term upside support line, taken from the low of the 6th of August. This way creating concerns over the possibility of going higher in the short-run. Also, we can see that the pair is currently resting slightly above the 78.95 support zone, marked by the low of last week. A break below the 78.95 could open the path towards the next potential area of support at 78.11, which also coincides with the 200 EMA. This is where the rate could stall for awhile, until the bulls and the bears figure it out who takes the driver's seat from there.
For us to consider the upside scenario, we would need to see a break and a close above the 80.29 barrier, which could open the path towards higher levels, last seen on the first days of September.
Don't forget your SL.
1D Channel Up. Long.EURRUB has priced a Higher Low (Highs/Lows = 0.0000) on the 1D Channel Up (RSI = 55.818, MACD = 1.078) and is now technically ready for a Higher price. The Higher High extension is 82.930 but we will be a little more conservative with the long targeting 82.000 (previous Higher High).
EURRUB - 240 - Wait for itTrade Alert
The pair is balancing just slightly above its, we can say tentative, upwards moving trendline, taken from the low of the 6th of August.
We remain cautious for now. We need to see either a close below that line, in order to start examining lower levels again. Or, if EURUB decides to bounce and close above 80.29, this could be a bullish sign, where the pair could then travel back up towards the recent highs near the 81.9400 zone.
Don't forget your SL.
EUR/RUB 1H Chart: Bulls likely to prevailThe EUR/RUB exchange rate has been trading in an ascending channel for two weeks now.
As apparent on the chart, the Euro has reached a resistance cluster formed by the combination of the 55–, 100- and 200-hour SMAs near the 79.00/20 mark. It is expected that the rate eventually gathers the necessary momentum to breach this resistance.
It is the unlikely case that some bearish pressure still prevails in the market, the Euro should not exceed the weekly S1 at 77.77.
EUR/RUB 4H Chart: Upside momentum likely The common European currency has declined significantly against the Russian Ruble after reaching its high mark at 80.00 in April. The currency pair reversed from the upper boundary of a dominant ascending channel on April 12 and has since reached the bottom border of its channel.
During the last month, the exchange rate has been bouncing between the borders of a medium-term triangle. Currently, the combination of the three SMAs is providing support for the rate near the 73.28 mark.
Given that the 55-, 100-, and 200-days simple moving averages are located below the price, a breakout through the upside of the aforementioned triangle is likely to occur during within the next trading sessions.
EUR/RUB 4H Chart: Larger scale reviewThe previously described ascending channel pattern of the EUR/RUB currency exchange rate was broken last week. With the breaking of that pattern a new massive scale descending pattern was revealed.
In the aftermath of the breaking of the channel up pattern a narrow ranged descending pattern, which represented the following plummeting of the Euro against the Russian currency. In addition, during the move the previously active long term channel up was broken, and its support reconfirmed as resistance.
The short version is that the pair is unlikely going to be guided by the narrow channel down. However, expect the reveal of a new long term descending pattern. The junior channel down just shows the first move in the borders of a larger pattern.
EURRUB - 240 - Just an idea here.Trade Alert
We are currently seeing some sideways action within something that could be seen as a range between 71.60 and 74.30. The pair might stick around in that range for a bit, until it decides to break one of the sides.
Recently, ideally, we should wait for a break of one of the highlighted sides, in order to take a position, but because EURRUB continues to slide slowly, we could see another move a bit lower, towards the 71.60 zone.
Please see the chart for details.
Don't forget your SL.
EUR/RUB 1H Chart: Pair falls below strong supportThe bearish momentum which guided the EUR/RUB exchange rate during the first part of May changed its direction later in that month. As a result, the pair formed a new ascending channel. The latest wave down from the upper channel line was guided by the 200-period (4H) SMA.
By Thursday morning, the pair had fallen below the 55-, 100– and 200-period SMAs on both the 1H and 4H charts. This suggests that some downside risks might still dominate the market this week.
The nearest support is provided by the senior channel line and the 100-day SMA at 72.50. In case this cluster is broken, the Euro is likely to target the 200-day SMA near 70.80. Conversely, a bullish reversal near 72.70 should result in a surge up to the upper channel line near 75.00.
EURRUB h4 long positionClassic pattern on big time frame.
arrow is my speculation. but 75 we will see
EUR/RUB 4H Chart: Rate approaches junior channelThe Euro strengthened significantly against the Russian Ruble mid-April. The pair surged unexpectedly 12.80% within four days, thus shooting past the upper boundary of a two-year channel near 78.00. This move proved to be a false breakout, as the pair returned within this channel and began easing its strong bullish momentum.
As apparent on the chart, the Euro is gradually approaching the bottom boundary of a shorter-term channel formed in December, 2016. Given that the pair is located below the 55-, 100– and 200-period SMA, its is likely that the current bearish momentum continues until this junior channel and the 38.20% Fibonacci retracement are reached near 71.55 this month.
At the time, technical indicators on the daily time-frame would be located in the oversold territory, thus pointing to a reversal and subsequent surge in price.
EURRUB - Daily - Is Euro strength going to kick in here as well?Trade Alert
Judging by the current strength in the common currency, we could assume that this pair could follow the same lead. A break above the 73.05 could open the path towards the 74.05, a break of which, could place EURRUB above the upwards moving trendline. This could be seen as a bullish sign.
Alternatively, if the 73.05 level holds, then the pair could end up moving back down towards the 71.60 area.
Don't forget your SL.
EUR/RUB 1H Chart: Pair bullish in medium termFollowing the massive 13% surge which occurred early in April, the common European currency has been trading in an descending wedge against the Russian Ruble.
It seems that this pattern might soon reach its maturity, thus resulting in a breakout and a subsequent surge in this direction. Given that the pair entered the wedge from below, the most likely scenario is a breakout to the upside in the medium term. It is still likely that the pair is pushed slightly lower this week. The most probable downside target is the 73.00 area where the 55-day and 200-period (on the 4H time-frame) SMAs are located.
In case the bullish sentiment continue to prevail, the Euro should appreciate towards the 76.00 area in a week’s time.
EURRUB - Daily - Very long flagTrade Alert.
EURRUB is still dragging itself lower, but forming a nice flag formation on the daily chart. Certainly, if the pair will brake the short-term upwards moving trendline, then we can scrap the whole upside idea.
Keep an eye on the breaking points.
Don't forget your stops!
EUR/RUB 1H Chart: Pair trades sideways after massive surgeEUR/RUB shot up considerably two weeks ago when it appreciated 12.98% in the course of three trading sessions. As a result, the Euro made a false breakout from a senior channel valid since late 2016.
The rate has since edged lower, but nevertheless failed to breach the 74.96 area on several occasions. This has left the rate in a range between this level and the 50.0% Fibonacci retracement at 76.51. The pair was supported by the 55-, 100– and 200-hour SMAs at 75.60 mid-Thursday.
Technical indicators demonstrate that there is still some upside potential in the market. Thus, the Euro might use the aforementioned support to push higher towards the senior channel or the 61.80% Fibo retracement at 79.75 and 80.65, respectively.
However, the bearish sentiment should eventually take the upper hand. The pair has to breach 74.70 to the downside in order to confirm this scenario.
EURRUB - Daily - Continue observing Even though it broke that little downwards moving resistance line, still we should stay cautious. But it potentially could play out as a nice trade later on.
Keep an eye on the price action!
EURRUB Buy IdeaEURRUB Buy Idea @Weekly Demand Zone (71.1393 - 70.0692)
Buy Limit: 71.1280
Stop Loss: 69.8945
Take Profit: 75.3191
EURRUB GOING TO RETEST RECENT HIGHI'm fairly confident in the retest of the all time high. We'll see.
#EURRUB #USDRUB - Will boycott Russia weaken Rouble?Hi there,
There are several reasons to panic:
1. Elections and Putins poor campaign
2. Russian CB converting gold reserves to USD
3. Boycott Russia
Accroding to technical analysis and patterns we observe on the chart probability of Rouble being weakened agains major currencies is very high. USDRUB and EURRUB are showing significant movement and a very strong power for uptrend.
Wait for the breakout.
EUR/RUB 1H Chart: Bulls lose momentumThe common European currency has been strengthening against the Russian Ruble for the past few weeks. This movement has been bound in a medium-term ascending triangle. The upper boundary of this pattern is a 2017/2018 high of 72.00.
It seems that the prevailing bullish sentiment has allayed, as the pair has failed to overcome the 71.50 mark during the last two weeks. As a result, a downward-sloping trend-line was drawn.
This lack of strong upside momentum suggests that bulls are unlikely to push as high as the 72.00 area. Thus, the Euro might continue respecting the aforementioned trend-line and edge lower down to the bottom triangle line located in the 69.20/40 area. This scenario could be confirmed with a breakout of the 55-, 100– and 200-hour SMAs circa 70.80.
