Thu, 05 Jan 2017 13:27:25 GMT
EUR/RUB 4H Chart: Channel Down
The common European currency is depreciating against the Russian Ruble in a descending channel pattern, which has been covered previously. However, the latest developments of the situation need to be addressed. After falling and encountering the support provided by the 23.60% Fibonacci retracement level the currency exchange rate surged until it reached the descending channel's upper trend line. As a