Trading the ruble on Forex.

Recently, the use of the Russian ruble as one of the currencies in the foreign exchange quotation has become increasingly popular.

The ruble is used in Forex in combination with the US dollar or euro; these two currency pairs allow you to make good money, despite the rather small size of the spread.

The main advantages of working with the ruble are the availability of fundamental data (economic and financial news, analyst reviews), high volatility, and ease of exchange rate forecasting.

It is the high volatility that allows you not to pay attention to the spread, which usually ranges from 5 to 15 points.

With the correct direction of the transaction and a good trend, the rate easily extends the spread and begins to bring profit to the trader. To increase profitability, it is recommended to use brokers with a floating spread. The main currency pairs that should be used in ruble trading are USD/RUB and EUR/RUB.

USD/RUB is the leader in terms of turnover on the Russian foreign exchange market, hence the much smaller spread than on EUR/RUB; it is easier to base trading on news on the Russian currency.

The purchase is made after a sharp strengthening of the ruble and the beginning of its fall after unfavorable news. Selling when trends are positive for the Russian currency and unfavorable for the US dollar. EUR/RUB – trading is carried out similarly to the previous currency pair, only now we focus on news from the euro zone.

If you carefully study the history of the movement of ruble currency pairs, you will see clear dynamics of movement, the ruble moves in a certain price channel , so it is advisable to buy at the lowest exchange rate of the ruble, and sell at the peak of its value.

True, this applies more to long-term and medium-term transactions; when trading intraday, you play on daily volatility.