It could be the end of a long-term correction in USDRUB pair as an Ending Diagonal pattern has been spotted on the chart.
MBT is quietly becoming a monopoly in the Russian mobile telecom space. I wrote a detailed analysis of the company, which you can find here: rockvuecapital.wordpress.com In short, the company is a monopolistic giant with tremendous reach and power in Russia and Eastern Europe. Despite this tremendous power and monopolistic qualities, the company trades at...
The US Dollar has continued to decline against the Russian ruble, as expected. The currency exchange rate has reached the previously set target of 56.13. The target was chosen as it represents the low level of August 2017. Moreover, it consists of various other levels of significance. For example, an inverse Fibonacci retracement level of past high and low levels...
As the US Dollar continued to lose ground against the Russian Ruble a major development occurred. The currency exchange rate passed a very significant support level near the 57.60 level. At that mark a 61.80% Fibonacci retracement level met with the support of the most dominant ascending channel pattern. However, that is no longer the situation. Instead the...
At first glance the situation on the USD/RUB charts looks chaotic. However, if one delves deeper into understanding the currency exchange rate, it is clear what is occurring. First of all the pair has made a rebound against the most dominant ascending channel patterns lower trend line, which is combined with the 23.60% Fibonacci retracement at the 56.95 mark....
During the recent trading sessions the US Dollar has made a rebound against the Russian Ruble. Due to that reason a surge is to be expected. However, various details reveal that the bulls might still pass this rate. First of all the pair is still located in the borders of the junior pattern channel down pattern .That means that it’s upper trend line will continue...
The US Dollar has been depreciating against the Russian Ruble during the last month. However, recently the currency exchange rate has reached the support line of a dominant descending channel pattern. The dominant pattern has a very small angle of decline, which means that most likely we will soon see the formation of a new ascending junior pattern. However, the...
Market analysis; The pair is now trading near the support zone with a strong triangle zone too. If the market holds the triangle support we can expect a rally up to the next resistanc. So let's wait and see what the market does in the coming days, cheers!