USDRUB can top around 93.500 but is due for a sharp correction.

This is the much talked about (due to the pending sanctions against Russia) USDRUB pair on the 1W time-frame.

As you see, it follows a very structured pattern within a multi-year bullish Channel. The price tops every time above the 2.0 Fibonacci extension and one Fibonacci extension higher in the Channel than the previous Higher High. The sequence indicates that the next Higher High should be around 93.500. It is still a solid buy on the short-term but if the Cycle continues to repeat this pattern, then is due for a correction on the long-term back to Fib 1.0. Trade according to your horizon and risk tolerance.



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