Russian Ruble - Market Analysis for Nov 2nd, 2021


Russian Ruble

USDRUB reached ultimate target for the Option 2 Micro count - further extension higher would probably invalidate further decline scenario and force me to switch to a bullish scenario (with regard to moderate bearish alternative).

EURRUB: similar approach works here - 84.0063 remains the line in a sand though short term breach above this line would be insufficient for switching to the bullish scenario. I need sustained impulsive advance to the upside to assume the pair has bottomed.

RUB= - Option 2D - Nov-02 1521 PM (1 day)
RUB= - Option 2D - Nov-02 1521 PM (1 day)
RUB= - Option 2 Micro - Nov-02 1519 PM (4 hour)
RUB= - Option 2 Micro - Nov-02 1519 PM (4 hour)
RUB= - Option 1D - Nov-02 1522 PM (1 day)
RUB= - Option 1D - Nov-02 1522 PM (1 day)
EURRUB= - Primary D - Nov-02 1524 PM (1 day)
EURRUB= - Primary D - Nov-02 1524 PM (1 day)
EURRUB= - Option 1 Micro - Nov-02 1519 PM (4 hour)
EURRUB= - Option 1 Micro - Nov-02 1519 PM (4 hour)
Arkady Yakhnis provides extensive coverage on precious metals, energy, and forex at ElliottWaveTrader.