EUR/RUB 1H Chart: Bears could prevail - Trade Pattern Ideas - Dukascopy Bank

Wed, 03 Jun 2020 12:10:22 GMT
Source: Dukascopy Bank SA
 
Indicator4H1D1W
MACD(12;26;9)SellSellBuy
RSI(14)BuyNeutralNeutral
Stochastic(5;3;3)NeutralBuyBuy
Alligator(13;8;5)SellSellBuy
SAR(0.02;0.2)SellSellSell
Aggregate

The EUR/RUB exchange rate has been trading downwards since the beginning of May. The rate has already declined below 78.00.  

Given that the currency pair is pressured by the 55-, 100– and 200-hour moving averages in the 78.00 area, it is likely that bears could continue to prevail in the market. In this case the pair could decline to the Fibo 61.80% at 71.38. 

Meanwhile, note that the exchange rate could gain support from the Fibo 50.00% at 74.93. If the given support holds, it is likely that a reversal north could occur.


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