| Indicator | 4H | 1D | 1W |
|---|---|---|---|
| MACD(12;26;9) | Buy | Sell | Buy |
| RSI(14) | Neutral | Neutral | Neutral |
| Stochastic(5;3;3) | Sell | Neutral | Neutral |
| Alligator(13;8;5) | Buy | Neutral | Neutral |
| SAR(0.02;0.2) | Buy | Buy | Sell |
| Aggregate | ⇗ | ⇒ | ⇒ |
The Euro has been appreciating against the Russian Ruble since the end of September within the rising wedge pattern.
From a theoretical point of view, it is likely that the EUR/RUB exchange rate could breach the given pattern south within the following trading sessions. In this case the rate could target drop lower than the psychological level at 70.00. Note that the nearest support level—the monthly S1, is located at 69.22.
However, note that the currency pair is supported by the 55-, 100– and 200-hour moving averages, currently located in the 70.82/71.31 area. Therefore, it is likely that some upside potential could prevail in the market, and the pair could target the Fibonacci 38.20% retracement at 73.50.