When the price level is crossed (line 1), the price will decrease. Options for corrective price growth are shown in the figure. Revision of the forecast when price levels are reached (line 2 and line 3), if necessary.
Pattern: Channel Down on 1M.
Signal: Bullish and bearish reversal once the MACD shifts to bearish. Ideally near the red resistance zone.
Target: 61.000.
Markets actively discounted under the monetary policy turn in the United States. In this light, the current decline and weakness of the dollar are quite understandable. On the part of officials, comments about a possible rate cut sound more and more actively. In particular, recently the St. Louis Fed President Jim Bullard, said that lowering the rate may be...
The best day for the pound over the past six weeks. Sum up, the result of its growth was the highest among the 30 other currencies on FOREX. Causes - a general correction in dollar pairs and possibility of Brexit progress. It is about the progress in the negotiations between Government and the leaders of the opposition Labor Party. As a result, by the middle of...
April 12, 2019 is the official Brexit date. There are two options: leaving without a deal (both are afraid of it, Britain and the EU, therefore, we regard this outcome as highly unlikely) or a delay. In our opinion, the second option is alternative. It is all about the terms. The EU summit will show whether it takes a year, as the EU wants, or a couple of months,...
We have not yet seen a close above the 78.989 level so one cannot be fully bullish on this currency as it seems hard for investors to commit themselves going long near the 78 level. With the unease that currently looms over the Greenback, any negative reports will not crash the dollar completely as it will always reign supreme. I have not fully understood ...
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 US Dollar reached the previously set target at the 64.15 mark against the Russian Ruble. After reaching the target the currency exchange rate bounced off the resistance provided by the upper trend line of a medium term ascending channel pattern. The trend line was also strengthened by a pivot point level.
In the aftermath of the bounce off the rate has...
USDRUB is in a consolidation pattern looking to break out. The consolidation is getting tighter and tighter. Look to go LONG or SHORT once a direction is found. If it breaks below, I will go short and hold for a long time because there is very little support beneath 48. (My bias remains on the downside but only time will tell.)
