Today I am taking a look at the Russian Ruble against the US Dollar that follows a request from a $12 Patron. The Ruble is not a market I monitor so my analysis is limited to a quick technical take.

the ruble is in a long-term downtrend and in a trading range since 2015 of 0.020 to 0.013. The current trend is towards 0.013.

The downtrend since early 2018 targets a trend towards 0.013

The ruble is currently enjoying its strongest rally of the year. However so far has not overcome any significant overhead resistance which implies that the ruble will likely retrace most if not all of the rally as the over riding trend remains down, targeting new lows for 2018 towards 0.013.

So in conclusion the Russian Ruble over the coming months will likely be trading lower than higher as it targets a trend towards 0.013.

This analysis was first been made available to patrons who support my work on the 3rd of October. So to get immediate First Access to ALL of my analysis and trend forecasts then do consider becoming a Patron by supporting my work for just $3 per month. https://www.patreon.com/Nadeem_Walayat.

Your analyst,

Nadeem Walayat

http://www.marketoracle.co.uk

Nadeem Walayat has over 30 years experience of trading derivatives, portfolio management and analysing the financial markets, including one of few who both anticipated and Beat the 1987 Crash. Nadeem's forward looking analysis focuses on UK inflation, economy, interest rates and housing market. He is the author of five ebook's in the The Inflation Mega-Trend and Stocks Stealth Bull Market series that can be downloaded for Free.

Nadeem is the Editor of The Market Oracle, a FREE Daily Financial Markets Analysis & Forecasting online publication that presents in-depth analysis from over 1000 experienced analysts on a range of views of the probable direction of the financial markets, thus enabling our readers to arrive at an informed opinion on future market direction. http://www.marketoracle.co.uk

Disclaimer: The above is a matter of opinion provided for general information purposes only and is not intended as investment advice. Information and analysis above are derived from sources and utilising methods believed to be reliable, but we cannot accept responsibility for any trading losses you may incur as a result of this analysis. Individuals should consult with their personal financial advisors before engaging in any trading activities.

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