Weekly Price Action Setups & Key Levels | Mar 4-9

 

My Current Active Open Trades: EURUSD, EURGBP, AUDUSD, AUDNZD, XAUTHB, USDRUB

USDRUB – False Break At RRL (4hr chart)
As we’ve talked about in prior commentaries, I’ve been bearish on the USDRUB and have already profited from one short trade. The pair recently formed a corrective pullback right into the key RRL we talked about around 59.

Since then, the pair formed a false break and has since broken back below this key RRL. The price action context + RRL + false break suggests the pair is trying to make an attack on the yearly lows.

A break here suggests a much deeper move towards 55, 53 and perhaps 50. In the meantime, I’m staying bearish till we have …

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