ridethepig | RUB Market Commentary 2020.02.19

19 févr. 2020

As widely expected USDRUB selling off from the 64.2x highs and a good time to collect half our chips from the table. Well done sellers, a textbook zigzag and flawless trade since the channel breakup so far. The spike was a textbook flushout with US sanctions acting as the catalyst.

For those tracking the previous diagrams the flows are wide open in the range, actively playing it makes complete sense to me in this environment:

Eventually expecting the grind towards the lows, risk sentiment around the COVID-19 will continue in the driving seat for further action here. Tracking closely 62.7x lows.

Thanks as usual for keeping the likes and comments coming!

21 févr. 2020

Note

Range breaking...tracking this on closely for the Week. If buyers take the highs we will have fresh updates in RUB macro charts over the weekend.