EUR/RUB 1H Chart: Previous forecast at work
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 Fibonacci 23.60% retracement at 76.71.
By the large, it is expected that the currency pair targets the upper trend line located in the 83.50/85.00 range.
However, technical indicators suggest that this advance might not be immediate, and the pair could re-test the lower channel line.
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 Fibonacci 23.60% retracement at 76.71.
By the large, it is expected that the currency pair targets the upper trend line located in the 83.50/85.00 range.
However, technical indicators suggest that this advance might not be immediate, and the pair could re-test the lower channel line.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.