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Buying here is a good long term investment with three targets, It is the sole responsibility of any recipient employing or requesting an offering to comply with all applicable legislation or regulation affecting it. In the aftermath of the breaking of the channel up pattern a narrow ranged descending pattern, which represented the following plummeting of the Euro against the

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The common European currency has declined significantly against the Russian Ruble after reaching its high mark at The currency pair reversed from the upper boundary of a dominant ascending channel on April 12 and has since reached the bottom border of its channel.

During the last month, the exchange rate has been bouncing between the borders of a With the breaking of that pattern a new massive scale descending pattern was revealed. In the aftermath of the breaking of the channel up pattern a narrow ranged descending pattern, which represented the following plummeting of the Euro against the Trade Alert We are currently seeing some sideways action within something that could be seen as a range between The pair might stick around in that range for a bit, until it decides to break one of the sides.

Recently, ideally, we should wait for a break of one of the highlighted sides, in order to take a position, but because EURRUB continues As a result, the pair formed a new ascending channel. The latest wave down from the upper channel line was guided by the period 4H SMA. By Thursday morning, the pair had fallen below the , — and period SMAs on both Russian Ruble is about to trend against Euro, due to the upcoming soccer world cup. The Euro strengthened significantly against the Russian Ruble mid-April.

The pair surged unexpectedly This move proved to be a false breakout, as the pair returned within this channel and began easing its strong bullish momentum. As apparent on the chart, the Euro is Trade Alert Judging by the current strength in the common currency, we could assume that this pair could follow the same lead.

A break above the This could be seen as a bullish sign. Alternatively, if the Previous forecast at work. Monthly Channel Up near a Higher Low. Bulls likely to prevail. Pair falls below strong support. Rate approaches junior channel.

The Russian economy is both a high growth one and exposed to changes in the global financial markets, which is why it was hard hit by the crisis in and Amidst Fed rate hikes, trade war fears and emerging market contagion worries, we take a look what currencies from developing nations, such as the Argentine Peso and Indian Rupee, face. But don't just read our analysis - put it to the rest. Your forecast comes with a free demo account from our provider, IG, so you can try out trading with zero risk.

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