- Analytics
- News and Tools
- Market News
- EUR/RUB to revisit the 80.38/79.03 support area before recovering in Q1 2022 – Commerzbank
EUR/RUB to revisit the 80.38/79.03 support area before recovering in Q1 2022 – Commerzbank
EUR/RUB is likely to revisit the 80.38/79.03 October low and 200-week moving average provided that 86.60 caps before rising in Q1 2022, Axel Rudolph, Senior FICC Technical Analyst at Commerzbank, reports.
EUR/RUB to slide to the 80.38/79.03 zone
“EUR/RUB’s descent eyes the 80.38/79.03 October low and 200-week moving average while the June-to-August lows and mid-September high at 85.75/86.60 cap.”
“Should the 80.38/79.03 support zone give way, we would have to allow for the 55 month moving average, June 2020 low and 2013-2021 uptrend line at 77.69/75.26 to be hit. The latter we expect to hold throughout the remainder of this year and during 2022, though. From there another uptrend should begin in Q1 2022.”
“For a bullish reversal to occur before 2022 not only the recent minor highs at 83.66/70 would need to be exceeded but also the above mentioned 85.75/86.60 resistance area. Stronger resistance can be found between the 200-day moving average at 87.42 and the July 2021 high at 89.05. This area may well be reached during 2022 when the 2020 uptrend is expected to resume.”
© 2000-2024. All rights reserved.
This site is managed by Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).
The information on this website is for informational purposes only and does not constitute any investment advice.
The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.
Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.
Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.
Please contact our PR department if you have any questions or need assistance at pr@teletrade.global.
Bank transfers
