USD/RUB 4H Chart: Broadening Rising Wedge

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
In general, USD/RUB continues to advance rather sharply, as it has done since early July. Recently, nothing has substantial changed; although, a rising wedge pattern has formed.
Last week the pair dropped significantly, after touching the upper boundary of the pattern at 43.67. Since then the Greenback has regained its bullishness and now it is ready to challenge the upper trend-line above the major level at 44. The market participants are continuing to be strongly bullish on the pair as 74% of them have opened long positions. Moreover, the daily and weekly technical indicators are also bullish, thus increasing the potential of a break-out to the upside.
© Dukascopy Bank SA
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