The previous forecast worked, and the EUR/RUB currency pair has reached the lower boundary of a long-term ascending channel located circa 74.70.
As apparent on the chart, the exchange rate is trading near given channel line. From a theoretical point of view, a reversal north should occur in the nearest future. An important resistance level to look out for is the...
To a newbie, this looks as if it would continue with it's uptrend. Although from a TA perspective, this is a shorting opportunity for the following reasons
Reasons:
1. Inverted hammer - candlestick pattern (the bulls are tired)
2. RSI is extremely overbought
The Russian Ruble has been depreciating against the US Dollar since the beginning of October. This movement has been bounded in an ascending channel.
Currently, the currency pair is testing the upper channel line at 66.40. If given channel holds, a reversal south occurs in the nearest future, and the rate aims for the support cluster formed by a combination of...
The common European currency has declined significantly against the Russian Ruble after the pair reversed from the upper boundary of a long-term ascending channel at 81.77.
Currently, the exchange rate is re-testing the support level formed by the weekly S1 at the 75.17 mark. Given that the 55– and 100-hour SMAs are located above the price, a breakout through...
EURRUB is trading on a very long term 1M Channel Up (RSI = 58.841, MACD = 1.999, Highs/Lows = 1.2013, B/BP = 6.7532), which is near pricing a Higher Low (est. 74.855). Buying here is a good long term investment with three targets, 80.645, 81.965 and 82.930.
The Russian Ruble has been appreciating against the US Dollar after the currency pair reversed from the resistance level formed by the monthly PP at 67.17. This movement has been bounded in a falling wedge.
As apparent on the chart, a breakout from the pattern should occur in the nearest future. From a theoretical point of view, the exchange rate should break...
Both 69.000 and 66.000 got hit as USDRUB first rose and the pulled back within the 1W Channel Up (RSI = 59.930, MACD = 1.888) to price a Higher Low at 64.900 (Highs/Lows = 0.0380). The next Higher High should be near 74.000, so our long TP is a little lower at 73.000.
The Russian Ruble has been depreciating against the US Dollar since early August under the pressure from new the US sanctions.
At the time of this analysis, the exchange rate had reached the lower boundary of a short-term ascending channel near 67.20. It is very likely that an upside momentum starts prevailing in the nearest future as the 55-period SMA (4H) push...
EURRUB has priced a Higher Low (Highs/Lows = 0.0000) on the 1D Channel Up (RSI = 55.818, MACD = 1.078) and is now technically ready for a Higher price. The Higher High extension is 82.930 but we will be a little more conservative with the long targeting 82.000 (previous Higher High).
TA is suggesting that USDRUB will complete a countertrend rally up to 70 USDRUB. Most likely, the correction will resume to at least 61. 56 is also a probable target. There is also a possibility that we will go to the 10 year MA at 47.
If we stay above 71 for a few weeks, a new study needs to be made.
USDRUB price is moving around important support/resistance area ~37.35. If goes through next resistance will be at 67.80. And I don't think it will hold so target is 71 rubles per one USD. That will be the top - good zone for shortening although a small chance of price flying like a rocket towards 73 is also real. Keep in mind the cold war is only in the very...
The EUR/RUB exchange rate has been trading in an ascending channel for two weeks now.
As apparent on the chart, the Euro has reached a resistance cluster formed by the combination of the 55–, 100- and 200-hour SMAs near the 79.00/20 mark. It is expected that the rate eventually gathers the necessary momentum to breach this resistance.
It is the unlikely case that...
USDRUB has broken the previous Rectangle on 1D to the upside (RSI = 67.004, MACD = 1.132, Highs/Lows = 1.0010, B/BP = 2.0066). However the currently High Volatility on 1D (ATR = 0.9168) as well as the overbought action on 1W (RSI = 73.797, STOCHRSI = 76.158, Williams = -15.552, CCI = 219.8375) indicate that the pair may enter another consolidation phase/...
The previously described ascending channel pattern of the EUR/RUB currency exchange rate was broken last week. With the breaking of that pattern a new massive scale descending pattern was revealed.
In the aftermath of the breaking of the channel up pattern a narrow ranged descending pattern, which represented the following plummeting of the Euro against the...
The bearish momentum which guided the EUR/RUB exchange rate during the first part of May changed its direction later in that month. As a result, the pair formed a new ascending channel. The latest wave down from the upper channel line was guided by the 200-period (4H) SMA.
By Thursday morning, the pair had fallen below the 55-, 100– and 200-period SMAs on both...
