USD/RUB - Technical View

28.09.2018 / 09:24

Rating:

USD/RUB - Daily

Commentary: The price is on an upward trend stemming mainly from the US sanctions against Russia. Over the last 3 weeks, we are seeing corrective movement in the pair, with the price already near a support zone formed by horizontal support, a major trend diagonal, and 38.2% Fibonacci correction. 50 and 200SMA remain beached - the trend remains in place. CCI14 crosses -100 bottom up - positive signal. However, the CCI50 remains below 0, suggesting that the downward corrective impulse is not over.

The options for a trade are currently two. Aggressive now with Stop Loss below 38.2% Fibonacci and conservative, after adjusting to lower levels close to diagonal support and strong Price Action for a twist.

Trader Petar Milanov

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USD/RUB - Technical View

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