USD/RUB 4H Chart: Triangle

Source: Dukascopy Bank SA
© Dukascopy Bank SA
It seems that the recent exit from the 197-bar long triangle pattern was a demonstration of a false breakout as USD/RUB managed to re-approach the pattern's support within one day after the drop occurred. However, this affirmation may appear ill-grounded considering that the pair is still unable to settle above the lower boundary of the formation and that over 72% of market players on the SWFX hold bearish view on the pair. Moreover, USD/RUB is trading not far away from the apex that will be reached in the second part of the week, adding to signs the current weakness may be the beginning of a massive sell-off.
© Dukascopy Bank SA
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