As we can see from the daily chart, the Russian ruble is slowly heading up toward level 69.00 with a bullish trap on it. We could expect for the candlestick patterns to form right next to level 69.00 as this will signify the beginning of descending move of USD/RUB. If this won’t be the case, asset’s rate may reach the level of 70 rubles per dollar and slide right down:
When it comes to the Canadian currency, there is descending channel in the daily time frame away from which the pair may pull back. However, we can expect an ascending flag to form on the weekly chart:
American index S&P500 got back under the level of 2877,21, forming a bearish trap and a double top or successful swing on the daily chart. This asset will most likely pull back up away from ascending channel and horizontal level 2800.00 just to approach the level 2877,22 and head down. It will be wise to rely on the candlestick patterns as we should always do:
Please note that this material is provided for informational purposes only and should not be considered as investment advice. Trading in the financial markets is very risky.