USD/RUB 4h Chart: Channel Down

Note: This section contains information in English only.
Source: Dukascopy Bank SA
Recent developments on the USD/RUB currency pair have pressed for a review of the situation. The currency exchange rate has bounced off the upper trend line of a long term descending channel pattern. As a result the first boundaries of a medium term pattern can be already seen. Although it is almost impossible to pinpoint the junior pattern at the time, one can see that the pair is clearly heading lower to the support line of the dominant channel. In addition, the hypothesis of an upcoming fall is strengthened by the fact that the pair is overbought, as 72% of open SWFX positions are long.
  Level  Rationale     Indicator 4H 1D 1W
R4 57.62 23.60% Fibo     MACD (12; 26; 9) Sell Buy Sell
R3 57.40 55-period SMA     RSI (14) Neutral Neutral Neutral
R2 57.00/10 100 and 200-period SMA; weekly PP     Stochastic (5; 3; 3) Neutral Sell Neutral
R1 56.77 Monthly PP     ADX (14) Neutral Neutral Sell
S1 56.06/55.94 Weekly and monthly S1s     CCI (14) Neutral Neutral Neutral
S2 55.20/15 Trend line; weekly S2     AROON (14) Buy Buy Buy
S3 54.89 Monthly S2     Alligator (13; 8; 5) Sell Neutral Sell
S4 56.46 Trend line     SAR (0.02; 0.2) Sell Sell Buy
          Aggregate ↘ → →
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Mon, 22 May 2017 11:18:30 GMT

EUR/RUB 4h Chart: Channel Up

Although the headline suggests that the common European currency is surging against the Russian Ruble, a decline is to be expected. The reason for that is the fact that the currency pair has hit the resistance of the dominant channel, which is an almost horizontal one. The pair is likely going to face the combined support of the 200-period

Mon, 22 May 2017 07:56:29 GMT

USD/SGD 1H Chart: Channel Down

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