On this week’s roundup of Donald Trump’s tweets, we look at an important tweet that preceded a market reversal effect on USDRUB. This switch in the direction provided a great opportunity for traders, especially those who are following Trump tweets. If you’re interested to try tracking the tweet-affect, sign up with Exness, open the MT4 trading software platform, and wait till trump tweets again.
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In this example, we witness a major bullish reversal of USDRUB. Trump tweeted that his scheduled meeting with Russia’s President Vladimir Putin was cancelled due to the recent Ukraine-Russia naval clash off the Crimean Peninsula.
The Ukraine and Russia crisis has been ongoing since 2014 after Russia led attacks into Ukraine to seize Crimea. This led to the EU imposing economic sanctions on Russia in March 2014. This naval clash between Ukraine and Russia further worsened the crisis between the two countries, and EU has put pressure on Russia again. Politicians ARE calling for new sanctions on Russia, and we all know sanctions on a nation have a profound effect on the respective currency.
USDRUB prices shot up immediately after Trump’s tweet, which subsequently led to a bullish trend reversal. The spike could well be attributed to traders viewing this tweet as an added pressure on Russia from the US, which puts Russia’s assets under large uncertainty leading to a massive sell-off. Thus RUB depreciated against the USD and this led to the bullish trend reversal of USDRUB.
Traders who bought USDRUB after Trump’s tweet would have bagged an impressive 225 pips profit. Open an account with Exness, get access to the MT4 trading platform. Check the USD currency pairs and wait to see what happens the next time trump tweets something.
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