Patterns: USD/RUB USD/CHF

USD/RUB 1H Chart: Ascending pattern is broken

The Russian Ruble has been appreciating against the US Dollar for two weeks after the pair reversed from the 2017/2018 high at 70.60.  
As apparent on the chart, the pair broke a short-term ascending channel at the end of last week. The rate is pressured by the 55-, 100– and 200-hour SMAs in the 68.60/69.15 range. This is likely to add some bearish pressure in the market and consequently result in appreciation of the Ruble.  
Even if bulls still move the rate upper during the following hours, the bearish momentum should take over the market and target the Fibonacci 23.00% retracement at 67.
USDRUB

USD/CHF 1H Chart: Upside potential likely

The US Dollar has been depreciating against the Swiss Franc since the beginning of September. This movement has been bounded in a descending channel.  
Currently, the pair is trading near the lower boundary of given channel. The common scenario would be a reverse from the lower channel line and a surge towards the upper boundary of the descending channel located circa 0.9740. However, technical indicators suggest that this advance might not be immediate due to the resistance cluster formed by a combination of the 100-, 200-hour SMAs and the weekly PP at 0.9690.
An important resistance level to look out for is the 55-hour SMA at 0.9668.
USDCHF

                            Start Trading with Free $30    : CLAIM NOW $30
VERIFY YOUR ACCOUNT AND GET YOUR $30 INSTANTLY ,MAKE MONEY WITHDRAW !!

               IT IS POSSIBLE TO SHIFT FROM $30  TO  $1,000,000  TRY  TODAY
IF  YOU  FACE  ANY  PROBLEM  TO  GET  THIS  OFFER  PLEASE CONTACT                                                                   US FOR
SUPPORT ,  CLICK  SMS  BAR  ABOVE  THEN  TALK  TO  US.



Comments

Post a Comment