Is the Ruble on the Rise? Could the EUR/USD Retreat?
Good day,
The EUR/USD approached the 1.1909 level, trying to close trading day with a bearish engulfing pattern. Should this scenario develop, the asset is likely to drop to the daily uptrend. The correction is likely to happen.
The price of the Australian dollar broke the uptrend and pulled back to it. The asset is now pulling again, forming a bearish engulfing pattern to drop till the 0.6700 level or to the width of trend. The only obstacle to overcome is the level of 0.7064 that can provide necessary resistance or stop the current correction of prices.
The price of Russian ruble keeps forming some sort of range or a pennant. The asset is currently above the 72.35 level and might target the 75.50 level of or head even further.
Let us remind you that this material is provided for informative purposes only and cannot be considered as a direct go ahead to implement transactions in the financial markets. Trading in the financial markets is very risky.
Disclaimer: The material provided is for information purposes only and should not be considered as investment advice. The views, information, or opinions expressed in the text belong solely to the author, and not to the author’s employer, organization, committee or other group or individual or company.
Past performance is not indicative of future results.
High Risk Warning: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 75% and 75% of retail investor accounts lose money when trading CFDs with Tickmill UK Ltd and Tickmill Europe Ltd respectively. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Futures and Options: Trading futures and options on margin carries a high degree of risk and may result in losses exceeding your initial investment. These products are not suitable for all investors. Ensure you fully understand the risks and take appropriate care to manage your risk.