USD/RUB 4H Chart: Channel Up

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
The U.S. Dollar is on a up-trend since late June; however, the bullish channel formed slightly later, namely on 7th of July. Since the start of the pattern the Greenback has appreciated from 33.80 to 36.40, returning to levels seen on March. Now the currency pair is hovering around the lower trend-line, thus a bullish wave might be anticipated. For channel up patterns in most of the cases there is a bearish break-out; however, we do not expect it to occur just yet. As the pair's sentiment is bullish, with 62% of the market participants expecting the advance to extend, and with the 4H technical indicators pointing to the north we see the trend to continue.
© Dukascopy Bank SA
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