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USD/RUB Analysis Today - 31/07: Down Trend Attracts (Chart)
(MENAFN- Daily Forex) Expert traders with experience and the capability to withstand the slings and arrows of temporary reversals in the USD/RUB may remain enticed by the bearish mid-term trend of the currency pair.
to sell the USD/RUB but it could also prove expensive if stop loss orders are not practically used/RUB Short-Term Considerations and CorrelationsThe U.S Federal Reserve will deliver its FOMC Statement later today. And while many analysts may not believe there should be a correlation regarding U.S Fed policy and the USD/RUB because of international sanctions, technical charts suggest otherwise. False narrative interpretations are always harmful, but there may be a correlation to the Fed's interest rate policy and the USD/RUB which is in effect.
- The USD/RUB remains one of the more challenging currency pairs on the Forex market to trade. Not only is there low transactional volume, international sanctions against the Russian Ruble, but there is also only a limited amount of Forex brokers who allow the currency pair to be traded. However, if a speculator likes to trade the USD/RUB, they likely know which brokers allow the currency pair to be wagered upon, and like the prospects of being among the few who believe they have insight regarding technical and fundamental trends.
to sell the USD/RUB but it could also prove expensive if stop loss orders are not practically used/RUB Short-Term Considerations and CorrelationsThe U.S Federal Reserve will deliver its FOMC Statement later today. And while many analysts may not believe there should be a correlation regarding U.S Fed policy and the USD/RUB because of international sanctions, technical charts suggest otherwise. False narrative interpretations are always harmful, but there may be a correlation to the Fed's interest rate policy and the USD/RUB which is in effect.
- If the U.S Fed suggests that two interest rates are going to come over the mid-term, this may help continue the incremental trend lower of the USD/RUB seen. There are no guarantees and certainly wagering on the USD/RUB remains speculative when there is little transparency, but it would not be surprising to see the currency pair continue to challenge the 86.0000 to 85.0000 depths in the coming days if the Fed sounds dovish this evening.

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