EUR/RUB 1H Chart: Bears likely to prevail - Trade Pattern Ideas - Dukascopy Bank
Fri, 06 Sep 2019 17:10:32 GMT
Source: Dukascopy Bank SA
Indicator
4H
1D
1W
MACD(12;26;9)
Sell
Buy
Sell
RSI(14)
Buy
Neutral
Neutral
Stochastic(5;3;3)
Neutral
Buy
Neutral
Alligator(13;8;5)
Sell
Buy
Neutral
SAR(0.02;0.2)
Sell
Sell
Buy
Aggregate
⇘
⇗
⇒
Our outlook on EUR/RUB is bearish, as the price has been trading within the descending channel for the past week.
Any recovery is therefore likely to be capped by the upper boundary of the pattern, currently residing at 73.00 and being strengthened by the 55-hour SMA. The ongoing rebound from the immediate support at 72.50 may also come to an end sooner, halted by the 72.80/76 supply area formed by the monthly pivot point and the 38.2% retracement of the Aug 1-19 rally.
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