USD/RUB - Good levels for long-positioning

15.10.2018 / 02:17

Varchev Finance - USD/RUB mid term expectations

Rating:

USD/RUB - D1

Our expectations - Long-term uptrend and price after retracement to a key support zone. Price Action of the past two weeks is strongly in favor of the USD against the Russian currency and the levels are comfortable for Long-Position with SL: 64.7657.

Alternative scenario: If the price moves below the support area and stays there, the positive scenario will be spoiled, and we are more likely to see a decrease in the USD price versus the ruble.

Commentary: Long-term upward trend and price after correction to key support zone formed by main upside diagonal, horizontal horizon and 38.2% Fibonacci correction of the main trend. 50 and 200 SMA in bullish formation - the trend remains in force. Price Action: After the gap in an upward direction, we do not observe instant fill, which clearly shows that the Bulls prevail after the correction. RSI remains below 50, suggesting that short-term downward pulses are possible that we can use for better positioning.

SL: 64.7657

Trader Petar Milanov

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USD/RUB - Good levels for long-positioning

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