EURRUB - 240 - Short-term uptrend is broken.
Trade Alert
EURRUB has broken its short-term upside support line, taken from the low of the 6th of August. This way creating concerns over the possibility of going higher in the short-run. Also, we can see that the pair is currently resting slightly above the 78.95 support zone, marked by the low of last week. A break below the 78.95 could open the path towards the next potential area of support at 78.11, which also coincides with the 200 EMA. This is where the rate could stall for awhile, until the bulls and the bears figure it out who takes the driver's seat from there.
For us to consider the upside scenario, we would need to see a break and a close above the 80.29 barrier, which could open the path towards higher levels, last seen on the first days of September.
Don't forget your SL.
EURRUB has broken its short-term upside support line, taken from the low of the 6th of August. This way creating concerns over the possibility of going higher in the short-run. Also, we can see that the pair is currently resting slightly above the 78.95 support zone, marked by the low of last week. A break below the 78.95 could open the path towards the next potential area of support at 78.11, which also coincides with the 200 EMA. This is where the rate could stall for awhile, until the bulls and the bears figure it out who takes the driver's seat from there.
For us to consider the upside scenario, we would need to see a break and a close above the 80.29 barrier, which could open the path towards higher levels, last seen on the first days of September.
Don't forget your SL.
Comment:
Mission accomplished.