USD/RUB 1H Chart: Channel Down

Source: Dukascopy Bank SA
© Dukascopy Bank SA
USD/RUB has been in the down-trend since late April when the currency pair slid into a bearish corridor, inside which it has been vacillating up to now.
At the moment, the pair is sitting not far away from the upper boundary of the tunnel. However, USD/RUB is likely to retreat from the pattern's resistance in the foreseeable future taking into account the SWFX sentiment-more than 67% of traders are bearish. If this comes true, the pair may dive to 34.4722/027 (daily S1, S2) and then to 34.3094 (daily S3); below the latter level USD/RUB is likely to commence an accelerating decline towards the lower limit of the formation.
© Dukascopy Bank SA
Back to articles

Actual Topics

Subscribe to "Fundamental Analysis" feed

Subscribe
To learn more about Dukascopy Bank CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
For further information regarding potential cooperation,
please call us or make callback request.
To learn more about Dukascopy Bank Binary Options / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Dukascopy Bank CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Crypto Trading / CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Business Introducer and other trading related information,
please call us or make callback request.
For further information regarding potential cooperation,
please call us or make callback request.