USD/RUB 4H Chart: Rising Wedge

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
Despite the regular intermissions between the trading sessions, USD/RUB has managed to form a high-quality rising wedge pattern, meaning the currency pair is on the verge of a sharp decline in the nearest future. Another argument in favour of the strong sell-off from here is current rate's proximity to the highs seen early September.
Accordingly, we should not expect a rebound from the support at 33.22, even though it consists of the weekly R1 and the rising trend-line. Instead the U.S. Dollar is more likely to breach this demand area and rush towards the 200-period SMA at 32.94, while the ultimate goal will then be 32.48—Dec 27 low.

© Dukascopy Bank SA
Back to articles

Actual Topics

Wed, 15 Jan 2014 12:34:53 GMT

GBP/JPY 4H Chart: Channel Down

GBP/JPY has recently topped out and is now undergoing a bearish correction that has developed into a bearish channel. Being that at the moment the currency pair is trading near the upper boundary of the downward-sloping corridor, the Sterling is likely to underperform and fall beneath the 200-period SMA at 170.20 and then move en route to the lower down-trend

Wed, 15 Jan 2014 08:35:59 GMT

USD/SEK 1H Chart: Channel Down

USD/SEK has been volatile recently; however, unusually large swings performed by the pair did not prevented it from determining its direction in the very beginning of the month. Having reached a three-week high, the pair started to move lower that entailed a sharp decline developed within the corridor of two downward sloping lines. Currently, the pair is rebounding after it

Subscribe to "Fundamental Analysis" feed

Subscribe
Per scoprire di più sulla piattaforma di Dukascopy Bank per Forex/CFD, sul SWFX ed altre informazioni relative al trading,
la preghiamo di contattarci o richiedere di essere contattato (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.
Per scoprire di più sulla piattaforma di Dukascopy Bank per Forex/CFD, sul SWFX ed altre informazioni relative al trading,
la preghiamo di contattarci o richiedere di essere contattato (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.