USD/RUB 1H Chart: Double Top

Source: Dukascopy Bank SA
© Dukascopy Bank SA
During more than a month ended on January 30, the U.S. Dollar was appreciating against the Russian Ruble; the advance was paused only when the pair managed to add dozens thousand of pips, in particular, the pair climbed from 32.5016 to a five-year high of 35.5678. This high became a peak of the double top pattern originated somewhere in the middle of the pair's climb.
Now it is a right time to get some profit as the pair is trading close to the pattern's neck-line and given the ‘death cross' developing just above the pair as well as bearishness of the market players, a deepening sell-off seems inevitable in the hours to come.
© Dukascopy Bank SA
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