EUR/RUB 1H Chart: Long-term channel in sight - Market News and Research - Dukascopy Bank

Fri, 12 Jul 2019 14:13:29 GMT
Source: Dukascopy Bank SA
 
Indicator4H1D1W
MACD(12;26;9)SellSellSell
RSI(14)NeutralNeutralNeutral
Stochastic(5;3;3)NeutralBuyBuy
Alligator(13;8;5)SellSellSell
SAR(0.02;0.2)SellSellSell
Aggregate

The Euro has been depreciating against the Russian Ruble since the beginning of June, after the EUR/RUB currency pair reversed south from the upper boundary of the long-term descending channel at 73.60.  

As apparent on the chart, the exchange rate has already reached the lower channel line at 70.70. From a theoretical point of view, it is expected, that a reversal north could occur soon, and the pair could target the upper channel line located circa 73.60. 

However, note, that the rate is pressured by 55– and 100-hour SMAs, currently located circa 71.30. Thus, if the given channel does not hold, the pair could maintain its decline towards the Fibonacci 61.80% retracement at 68.29.


Back to feed

To learn more about Dukascopy Bank Forex trading platform, SWFX and other trading related information, please contact us: +41 22 799 4888

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.