Where does the piglet go?
Judging by that, that the stock market is growing, then we can assume about the demand for foreign capital in the Russian ruble. Why a dollar, which the FED отторгает, despite all the cynical assurances.
All other things being equal, capital inflows to Russia have an impact on the strengthening of the ruble. Based on the weekly chart, 2 Goal.
The first target of MA100 in the area 28.30-28.50, second target in the area 27 with further dollar weakness, the strength of oil and the growth of Russian indices.
It is also worth noticing, that while the dollar is oversold against the ruble, what can be seen in the bottom panel.
