USD/RUB 4H Chart: Channel Up

Note: This section contains information in English only.
Source: Dukascopy Bank SA

Indicator 4H 1D 1W
MACD (12; 26; 9) Buy Sell Sell
RSI (14) Neutral Neutral Neutral
Stochastic (5; 3) Sell Sell Neutral
Alligator (13; 8; 5) Buy Sell Sell
SAR (0.02; 0.2) Sell Buy Sell
Aggregate

At first glance the situation on the USD/RUB charts looks chaotic. However, if one delves deeper into understanding the currency exchange rate, it is clear what is occurring.  

First of all the pair has made a rebound against the most dominant ascending channel patterns lower trend line, which is combined with the 23.60% Fibonacci retracement at the 56.95 mark.

As a result of the rebound the previously active medium term pattern was broken. Moreover, two new patterns have been mapped. The short term, already obsolete channel up pattern has already been broken. Meanwhile, the new medium term channel up is only speculated.

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