Technical analysis of currency symbols


Currency USDRUB

In line with many other currency symbols that the US dollar is involved in, the movements of the USDRUB currency symbol have tended to be lower this week. Based on what happened yesterday, it appears that this symbol has broken out of its recent range and continued to decline. 65.55 seems to be the main resistance right now.

This timeframe does not show clear support on the chart, however the 62.30 level formed in June 2018 could be an important area.

Technical indicators for USDRUB currency symbol H4 timeframe

A typical setting of the MA indicates a strong sell signal for the USDRUB currency symbol. We can see that the moving average indicator with its settings of 20, 50, 100 and 200 are all moving lower than the other. A series of crosses resulted in the major downward moves yesterday. The main line of the Bollinger Bands indicator could be an important area in the near future, especially if it coincides with the 23.6% Fibonacci retracement level in the next week.

The Bollinger Bands indicator with its settings (20,0,2) no longer shows the same strong oversold condition as it did yesterday. Where with the opening of today’s candle the price has returned to the lower deviation area of   the indicator. On the other hand, the significant expansion of the significant deviations in the indicator lines indicates a high level of volatility. The Slow Stochastic (15.5.5) continues to give oversold signs as the stochastic has not moved much above the signal line yet.

On the other hand, the MACD indicator continues to point to a sell signal as the histogram moves away from the signal line and this is one of the typical signals that indicate a continued sell.

Price behavior and Fibonacci indicator

The price behavior also indicates a clear sell signal for the USDRUB currency symbol. The three black crows pattern appeared yesterday, and it’s a pattern that suggests a downward movement. Yesterday’s momentum indicators showed that the currency symbol was oversold. On the other hand, the doji pattern appeared in the early hours of the morning.

This could indicate the possibility of a fairly large impact with the candles to come. A look at the daily newspapers also shows that the price has made up almost half of yesterday’s losses, so that the current levels can be viewed as a good entry point for a short-term short position, depending on price behavior.

Fibonacci lines can be drawn on this chart based on the high and low of the USDRUB currency symbol H4 at a Fibonacci level of 23.6% as this area is the first obstacle when the price rises again; This could be an important area if price action coincides with the 20 SMA indicator early next week. In addition, the 50% Fibonacci level seems to be quite prominent. This line could soon coincide with the SMA 50.

Technical analysis summary of USDRUB Currency Symbol

The technical indicators of the USDRUB currency symbol in the H4 timeframe generally indicate a very clear sell signal. The main factor to consider is the oversold areas according to the signals of both Stochastics and Bollinger Bands.

Traders should be keeping an eye on the business news of the USDRUB currency symbol as the losses on this symbol are related to recent economic events.

USDMXN Technical Analysis

The chart on the USDMXN’s 4-hour timeframe shows clear sideways movements over the past few weeks. The downward trend at the end of last week’s Fed meeting was not a sustainable trend. We can identify the 19.87 area as the main and most obvious resistance in this timeframe, at the same time that the nearby support appears to be around the 18.90 area

Technical indicators for USDMXN Currency Symbol H4 Timeframe

MAs give somewhat mixed signals. However, the MAs give a long-term sell signal.

The price is now trading below the 50, 100 and 200 moving averages. However, last Tuesday we could see a gold cross between the 20 and 50 moving averages. It seems that the 100 SMA will surpass the 200 SMA in the near future, unless the price suddenly goes up.

In the short term, there are some major resistance points, the most important of which are the areas around 19.22 as indicated by the 100 and 200 moving average indicators.

However, there may also be an area of   support near 19.11 as indicated by the SMA 50 indicator which is the area that the price is currently testing.

The Bollinger Bands indicator (20,0,2) shows that volatility is now generally starting to decrease as the volatility has decreased in the last two days.

We can also see a weak sell-signal from the current price near the lower band where the currency symbol is trading. The stochastics or the Bollinger Bands are not yet indicative of oversold signs and the MACD indicator is a rather weak sell signal.

Price behavior and Fibonacci indicator

The price action generally also indicates a weak sell-signal on the USDMXN currency symbol. Yesterday’s big candle came after a series of Doji candles on Tuesday. However, the momentum appears to be very weak in both directions. The Doji candle that appeared this morning also indicates the lingering indecision in the trend.

The Fibonacci lines here depend on the big downward movement in the first half of June. While prices moved below the key psychological range of the 7:00 p.m. candle. It also appears that the 23.6% retracement area could be an important resistance ahead of price as it has been trading below it since June 10th.

Summary of the technical analysis of the USDMXN

Technical indicators on the 4-hour chart of the USDMXN currency symbol are generally showing a weak sell-signal and while the price may continue to decline slightly through the end of the week, moving beyond the recent lows is not favorable. Likewise, traders should be aware of major economic news coming this afternoon 

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