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Oct 6, 2023 7:23 AM

USDRUB Wonderful Fibonacci Channel trading setup.Β Short

U.S. DOLLAR / RUSSIAN RUBLEICE

Description

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The USDRUB pair is trading on a Fibonacci Channel Up with the 1D MA50 (blue trend-line) providing the first level of Support. Coming of a 1D MACD Bullish Cross, the price is on the 3rd mini Channel phase (orange) within the 1.0 and 1.5 Fibonacci levels, same as the previous (green) has been within 0.5 - 1.0 Fib and the one before (blue) within the 0.0 - 0.5 Fib.

We should be half-way through this phase so every 1.5 Fib test is a sell opportunity and every 1.0 is a buy, until the price hits the 1D MA100 (green trend-line) and starts the rise to the next Fib range (1.5 - 2.0).

Currently the pair is a sell opportunity, targeting 95.000.

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Comments
yividus
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What your prediction for the rouble in 2024?
interloperxx
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wow, that was actually good analysis !
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