Russian Ruble to Lose 66% of its Value Against the Dollar

23 Şub 2022

There are 81 Russian Rubles in one USD today. This is not the first time the RUB has devalued this much against the Dollar. We have an ascending triangle in the USDRUB chart that has spanned six years of price action. Once that triangle breaks upwards, we have a price target of 135. Let us keep watching this triangle to see if it will indeed break upwards. Then we can set up a trade on this pair.

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24 Şub 2022

Not

Wow this triangle broke upwards violently. I anticipate a retest of the top of the triangle, but then the trade is set with a target of 135 and a stop loss below the swing low at about 67.5.

I expect the re-test not only because that's what triangles do, but also this move in my opinion is exaggerated.

24 Şub 2022

Not

Expected price action on the 10-minute chart.

28 Şub 2022

Not

Just a follow up on my previous post.



Price did hit the bottom of the ascending triangle (around 82 RUB). This is where we start going up to 135 RUB gradually. Over the weekend, exchanges inside Russia sold USD at the rate of 105 RUB. The central bank intervened and dropped the price back to the levels before the weekend. If you are trading this pair, this is the time to make a setup with a clear stop loss perhaps at 79, and a target of 135. Good luck.

28 Şub 2022

Not

This is the trade setup. RRR = 8.5

28 Şub 2022

Not

Weekly trade

17 Mar 2022

İşlem kapandı: hedefe ulaştı

Price has indeed reached 135 RUB per USD. We will keep watching this chart for any emerging patterns. Thanks for following.