💾 Euro vs Russian Ruble

I was looking at this with the RSI open and was getting mixed signals. The daily timeframe (short-term) also, mixed signals but this isn't the case for the long-term.

The blue lines you see here, that's the trend.

Both the long upper wick March 2022 and the crash May-Dec. 2022 are the excess.

This chart is clearly saying that the Euro is set to continue growing against the Russian Ruble, but things can change.

Last month was a decisive session and gives out a strong signal.

We have a "hammer" candlestick; long lower wick coupled with a small real body.

This month we have a full green candle, so far, and this works as confirmation of last's months session. Meaning bullish confirmation.

This is all pointing straight up (green arrow), with the main support being 80 (last months wick low) and 72 (January's low). Moving below these levels would change the chart structure yet the bullish bias would still remain.

Below you can find the USDRUB trade ideas if you want additional information:

💾 U.S. Dollar Bullish Against The Russian Ruble | April 10, 2023

💾 U.S. Dollar / Russian Ruble TOM | December 21, 2022


Thank you for reading.

Namaste.